The Bitcoin worth prediction reveals that BTC is following the sideways motion because the coin fails to head in the direction of the 21-day transferring common.
Bitcoin Prediction Statistics Data:
- Bitcoin worth now – $21,099
- Bitcoin market cap – $402.1 billion
- Bitcoin circulating provide – 19.0 million
- Bitcoin whole provide – 19.0 million
- Bitcoin Coinmarketcap rating – #1
BTC/USD Long-term Trend: Ranging (Daily Chart)
Resistance Levels: $28,000, $30,000, $32,000
Support Levels: $15,000, $13,000, $11,000
At the time of writing, BTC/USD is hovering at $21,099. However, the king coin has not been in a position to reclaim the resistance degree of $22,000 because the coin consolidates inside the 9-day and 21-day transferring averages. At the second, the Bitcoin worth might start to comply with the sideways motion, however the each day chart reveals that the formation of a bearish motion is seemingly to play out.
Bitcoin Price Prediction: BTC Price May Consolidates to the Downside
As the Bitcoin worth strikes towards the east, it is seemingly to slide and face the decrease boundary of the channel because the technical indicator Relative Strength Index (14) strikes in the identical course under the 40-level. This might imply that the King coin is not but prepared for the upside till the purple line of the 9-day transferring common crosses above the inexperienced line of the 21-day transferring common.
Looking at it from above, restoration might not come simple because the bears might deliver the king coin under the channel’s decrease boundary. Meanwhile, a sustainable transfer above the 9-day and 21-day transferring averages might find the resistance degree of $25,000, which can permit for an prolonged restoration in the direction of the potential resistance ranges at $28,000, $30,000, and $32,000. However, a rise in promoting stress might trigger the Bitcoin worth to hit the helps at $15,000, $13,000, and $11,000.
BTC/USD Medium-Term Trend: Bearish (4H Chart)
Looking on the 4-hour chart, the Bitcoin worth trades above the 9-day and 21-day transferring averages. BTC/USD might cross above the channel’s higher boundary because the market is making an attempt to recuperate from the bearish momentum. However, if the worth breaks above the 9-day transferring common and crosses above the higher boundary of the channel, larger resistance can be situated at $23,000 however quite the opposite, the technical indicator Relative Strength Index (14) is seen transferring sideways.
Moreover, if the bearish motion steps again, the help degree of $20,000 is probably not in a position to maintain the promoting stress. Therefore, BTC/USD is seemingly to fall to $18,000 and under if the worth strikes towards the decrease boundary of the channel.
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