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BTC Bears May Slide Below $29,000 Support

The Bitcoin worth prediction exhibits that BTC is seemingly to cross under the shifting averages because the coin touches $29,402 assist.

Bitcoin Prediction Statistics Data:

  • Bitcoin worth now – $29,525
  • Bitcoin market cap – $564.8 billion
  • Bitcoin circulating provide – 19.0 million
  • Bitcoin complete provide – 19.0 million
  • Bitcoin Coinmarketcap rating – #1

BTC/USD Long-term Trend: Ranging (Daily Chart)

Key ranges:

Resistance Levels: $36,000, $38,000 $40,000

Support Levels: $24,000, $22,000, $20,000

BTC/USD might face a setback that might drag the coin under the 9-day and 21-day shifting averages, and the king coin is seemingly to have a further bearish run. Currently, Bitcoin (BTC) is buying and selling across the $29,525 degree after a free fall from the day by day excessive of $30,674 through the European.

Bitcoin Price Prediction: Bitcoin (BTC) Heads to the Downside

The Bitcoin worth is at the moment nose-diving under the shifting averages. If the worth ought to droop under the assist degree of $29,000, it is seemingly to face a downward development. Moreover, the additional bearish motion may find the helps at $24,000, $22,000, and $20,000, making room for BTC to fall even additional.

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In the meantime, the technical indicator Relative Strength Index (14) might cross under 40-level because the buying and selling quantity might be in assist of the bears. On the opposite, if bulls determine to transfer the worth again above the 9-day and 21-day shifting averages, BTC/USD might transfer in the direction of the higher boundary of the channel to find the resistance ranges at $36,000, $38,000, and $40,000.

BTC/USD Medium-Term Trend: Ranging (4H Chart)

On the 4-Hour chart, the Bitcoin worth stays under the 9-day and 21-day shifting averages and the fast assist is seemingly to come on the $29,500 degree. The worth might seemingly fall under this degree if the bears proceed to dominate the market.

BTCUSD – 4 Hour Chart

However, an extra bearish motion may hit the important assist on the $28,500 degree and under, whereas the resistance is positioned above the shifting averages on the resistance degree of $31,000 and above. Meanwhile, the Bitcoin worth is at the moment shifting on the constructive aspect because the technical indicator Relative Strength Index (14) is seemingly to cross above 40-level.

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