BTC/USD May See Another Drop Below $16,500

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The Bitcoin value prediction reveals that BTC is but to acquire energy above the 21-day transferring common because the coin ranges.

Bitcoin Prediction Statistics Data:

  • Bitcoin value now – $20,000
  • Bitcoin market cap – $316.9 billion
  • Bitcoin circulating provide – 19.2 million
  • Bitcoin whole 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: $14,000, $12,000, $10,000

After one other failure to hit the resistance degree of $20,000; BTC/USD stays below the 21-day transferring common. Meanwhile, the Bitcoin value may start one other decline if bulls failed to push the coin to the upside. At the opening of as we speak’s buying and selling; the king coin touches the resistance degree of $16,693, however any additional bearish motion might convey the coin down to the bearish zone.

Bitcoin Price Prediction: Bitcoin (BTC) May Head to the South

As the Bitcoin value hovers inside the transferring averages, heading towards the decrease boundary of the channel might improve the promoting stress. Therefore, if there are extra losses, the value may break the main helps at $14,000, $12,000, and $10,000. Meanwhile, the technical indicator Relative Strength Index (14) strikes in the identical route across the 40-level, suggesting sideways motion.

On the opposite hand, if the king coin crosses above the 21-day transferring common; it may head in direction of the higher boundary of the channel and a transparent break above this barrier might trigger the coin to the resistance ranges of $20,000, $22,000, and $24,000.

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

According to the 4-hour chart, the coin might acquire misplaced momentum if the coin strikes to cross above the higher boundary of the channel. At the second, the volatility nonetheless hovers, and the promoting stress nonetheless exists as this might lead the coin to the draw back. Meanwhile, the $15,500 and under might come into play if BTC breaks towards the decrease boundary of the channel.

BTCUSD – 4-Hour Chart

Meanwhile, if the patrons can reinforce and energy the market, merchants can anticipate a bullish cross above the higher boundary of the channel, and breaking this barrier might enable the bulls to attain the resistance degree of $17,500 and above. The Relative Strength Index (14) is transferring above the 50-level, which exhibits that the market may comply with the bullish motion.

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