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BTC/USD Price Could Slide to $16,000 Support

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The Bitcoin value prediction is probably to unfold the bearish transfer beneath $16,000 after quite a few makes an attempt to maintain positive aspects above $17,000.

Bitcoin Prediction Statistics Data:

  • Bitcoin value now – $16,588
  • Bitcoin market cap – $318.5 billion
  • Bitcoin circulating provide – 19.2 million
  • Bitcoin whole provide – 19.2 million
  • Bitcoin Coinmarketcap rating – #1

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

Key ranges:

Resistance Levels: $20,000, $22,000, $24,500

Support Levels: $14,000, $12,000, $10,000

BTC/USD is buying and selling round $16,566, however the largest cryptocurrency may face a help smashing train after failing to maintain above $17,000. However, the bearish motion has been seen throughout the crypto market in the previous few hours, with different main digital property seeing comparable losses buying and selling across the 9-day and 21-day transferring averages.

Bitcoin Price Prediction: Can BTC Price Go Lower?

The Bitcoin value is buying and selling at $16,566 with an intraday lack of 0.12% because the prevailing pattern is probably to comply with the bearish motion. However, Bitcoin (BTC) is at the moment dealing with a draw back inside the channel, and a bearish motion towards the decrease boundary of the channel is anticipated to proceed. In the meantime, BTC/USD is anticipated to fall and keep beneath the 9-day and 21-day transferring averages which may hit the vital help ranges at $14,000, $12,000, and $10,000.

However, if the Bitcoin value crosses above the transferring averages; the worth may rise to $17,000 very important resistance whereas an extra bullish drive may take the coin to the resistance ranges of $20,000, $22,000, and $24,000 respectively. Moreover, the technical indicator Relative Strength Index (14) is transferring beneath the 40-level, which reveals a potential bearish momentum inside the channel.

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

As the market opens in the present day, the Bitcoin value touches the each day low of $16,505, however now hovering round $16,588.12. Should the worth drop beneath the 9-day and 21-day transferring averages; it may hit the following degree of help at $15,500 and beneath.

BTCUSD – 4-Hour Chart

However, if the bulls push the coin above the higher boundary of the channel, the Bitcoin value may hit the potential resistance degree of $18,000 and above. For now, the market might expertise an uptrend if the technical indicator Relative Strength Index (14) crosses above the 50-level.

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