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The Bitcoin value prediction sees a 0.81% decline over the previous few hours because the cryptocurrency fails at $17,158 and heads decrease.
Bitcoin Prediction Statistics Data:
- Bitcoin value now – $16,955
- Bitcoin market cap – $326.1 billion
- Bitcoin circulating provide – 19.2 million
- Bitcoin complete provide – 19.2 million
- Bitcoin Coinmarketcap rating – #1
BTC/USD Long-term Trend: Bearish (Daily Chart)
Key ranges:
Resistance Levels: $20,000, $22,000, $24,000
Support Levels: $15,000, $13,000, $11,000
BTC/USD loses its momentum after touching key resistance above $17,100. As of writing, the king coin is down 0.81% on the day at $16,955 going through the 9-day and 21-day shifting averages. Meanwhile, Bitcoin might battle to shut above $17,000, and if it does, it needs to be free to rise properly above $18,000 if it strikes towards the higher boundary of the channel.
Bitcoin Price Prediction: Can Bitcoin Price Trade Above $18,000?
After a barely optimistic transfer above $17,000, the Bitcoin value might slide beneath the 9-day and 21-day shifting averages. Over the previous few days, the king coin has been struggling to stay above the shifting averages. In immediately’s session, the Bitcoin value tried to push larger, however the sellers stepped into the market to deliver the market value decrease to contact the every day low of $16,890.
Moreover, if the coin strikes decrease, the $16,500 might function the closest help degree, which can possible make room for the coin to fall additional to hit the helps at $15,000, $13,000, and $11,000. The Relative Strength Index (14) stays beneath the 50- degree, which might comply with the downward motion. On the opposite, BTC/USD might possible face the higher boundary of the channel to hit the resistance ranges of $20,000, $22,000, and $24,000.
BTC/USD Medium-term Trend: Bearish (4H Chart)
On the 4-Hour chart, the BTC value hovers round $16,953 and should possible cross above the 9-day and 21-day shifting averages. However, if the bulls collect sufficient energy, the upward motion could also be close to the resistance degree of $17,500 and above.
On the draw back, fast help might be situated across the $16,700 degree whereas crucial help is at $16,500 and beneath. Therefore, the Bitcoin value might possible fall in direction of the decrease boundary of the channel if the bears put extra strain available on the market, Moreover, the Relative Strength Index (14) retains shifting beneath the 60-level, suggesting a sideways motion.
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