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BTC May Retrace Above $29,500

The Bitcoin value prediction exhibits BTC is rising from the opening value of $29,000 because the shopping for curiosity approaches $30,000.

Bitcoin Prediction Statistics Data:

  • Bitcoin value now – $29,340
  • Bitcoin market cap – $559.9 billion
  • Bitcoin circulating provide – 19.0 million
  • Bitcoin whole provide – 19.0 million
  • Bitcoin Coinmarketcap rating – #1

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

Key ranges:

Resistance Levels: $35,000, $37,000, $39,000

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

Bitcoin Price Prediction
BTCUSD – Daily Chart

BTC/USD is shifting sideways because the coin establishes a cross above $29,000 however presently rebounding to cross above the 9-day shifting common. The consumers could start to search for some resistance ranges on their approach to the higher boundary of the channel.

Bitcoin Price Prediction: BTC Price May Reclaim $30,000 Level

The Bitcoin value is going through the resistance degree of $29,500 and searching ahead to reclaiming the resistance degree of $30,000. However, the every day chart reveals that if the king coin crosses above the 9-day shifting common; this will verify the subsequent route that the coin will comply with. On the opposite, BTC/USD could decline if the $29,000 help breaks down, however the value may rise if the $31,000 resistance is reached.

At the time of writing, the technical indicator Relative Strength Index (14) stays under the 40-level to point out sideways motion. Therefore, if the Bitcoin value crosses above the 9-day and 21-day shifting averages, it may hit the resistance ranges of $35,000, $37,000, and $39,000 however any motion under the decrease boundary of the channel may hit the helps at $24,000, $22,000, and $20,000.

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

According to the 4-hour chart, the Bitcoin value is under the 9-day and 21-day shifting averages because the technical indicator Relative Strength Index could cross above the 50-level. From above, if the Bitcoin value crosses above the shifting averages, the bullish affect may spike and the accrued features massively.

BTCUSD – 4 Hour Chart

However, the present candle may retreat under the decrease boundary of the channel and will goal the help degree of $28,000 and under, however the very best the bulls can do is to maintain above the resistance degree of $30,000 and preserve their consideration on breaking the potential resistance at $31,000 and above.

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