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BTC Moves to Cross Below $28,000

The Bitcoin worth prediction reveals that BTC is following the bearish motion as the value drops to contact the $28,564 day by day low.

Bitcoin Prediction Statistics Data:

  • Bitcoin worth now – $28,790
  • Bitcoin market cap – $548.2 billion
  • Bitcoin circulating provide – 19.0 million
  • Bitcoin complete 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

BTC/USD is experiencing an sudden selloff because the market worth slides under the 9-day transferring common. The first digital asset drops after touching the day by day excessive at $29,355. However, a reversal might play out, which can ship the king coin above the opening worth of $29,166 degree if the bulls step again into the market.

Bitcoin Price Prediction: Where is Bitcoin (BTC) Going Next?

At the time of writing, the technical indicators reveal that the Bitcoin worth is following a bearish motion. The Relative Strength Index (14) Keeps transferring under 40-level. This may imply that there is nonetheless room that could be explored by the bears. Therefore, BTC/USD might keep on the draw back if the market worth crosses under the channel.

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On the upside, restoration might not come into focus, however any try to transfer in direction of the higher boundary of the channel might permit the king coin to transfer and hit the resistance ranges of $35,000, $37,000, and $39,000. Meanwhile, a rise in promoting stress may drive the Bitcoin worth to observe a bearish path which may find the help ranges at $24,000, $22,000, and $20,000.

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

On the 4-hour chart, the Bitcoin worth has been ranging because the coin stays under the 9-day and 21-day transferring averages. However, the Bitcoin worth is seemingly to return to the bull market if the 9-day MA crosses above the 21-day MA, and better resistance could possibly be positioned at $29,500 and above.

BTCUSD – 4 Hour Chart

Similarly, if the value drops under the decrease boundary of the channel, the help degree of $28,500 will not be in a position to maintain the promoting stress because the Relative Strength Index (14) crosses under the 40-level. Any additional bearish motion might hit the help degree of $28,000 and under.

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