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BTC/USD Could Obtain Strong Support Below $19k

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The every day chart reveals that the Bitcoin (BTC) value might lengthen the bearish motion to the areas under the assist stage of $19,000.

Bitcoin Prediction Statistics Data:

  • Bitcoin value now – $19,335
  • Bitcoin market cap – $370.6 billion
  • Bitcoin circulating provide – 19.1 million
  • Bitcoin whole provide – 19.1 million
  • Bitcoin Coinmarketcap rating – #1

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

Key ranges:

Resistance Levels: $23,000, $25,000, $27,000

Support Levels: $17,000, $15,000, $13,000

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BTC/USD falls under $19,500 as soon as once more as the primary digital asset embarks on assist after the coin failed to maintain above the resistance stage of $20,000. According to the every day chart, the bearish management is seen throughout the market because the sellers are making effort to enhance the bearish motion.

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Bitcoin Price Prediction: BTC  Could Touch $19k Support

The Bitcoin value is hovering at $19,335 with an intraday lack of 0.46%. Looking on the every day chart, the prevailing development is bearish with increasing volatility as the primary digital asset is probably to consolidate in a bearish flag sample. Meanwhile, a breakdown under the transferring averages is supposed to proceed within the path of the earlier development. In this case, BTC/USD is anticipated to drop and keep under to hit the crucial assist ranges at $17,000, $15,000, and $13,000.

However, ought to the Bitcoin value return above the transferring averages; the worth may rise to the closest resistance at $20,000. An additional bullish drive may push the worth to $23,000, $25,000, and $27,000 resistance ranges. The technical indicator Relative Strength Index (14) is revealing a sideways motion, which reveals that the market might proceed to vary.

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

At the opening of the market at this time, the Bitcoin value faces up to contact the resistance stage of $19,401 however might probably drop in the direction of the channel, bringing its value to commerce round $19,338. Meanwhile, ought to the worth keep under the 9-day and 21-day transferring averages, it is probably for the coin to head in the direction of the decrease boundary of the channel to attain the assist stage at $18,500 and under.

BTCUSD – 4-Hour Chart

Moreover, if the bulls push the coin above the 9-day and 21-day transferring averages, the Bitcoin value may revisit the resistance stage of $20,500 and above. Presently, the market might start to transfer sideways or expertise slight uptrends because the Relative Strength Index (14) indicator strikes under 50-level.

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