The Bitcoin value prediction exhibits that BTC slumps under the resistance degree of $20,390 as additional draw back momentum seems to be imminent.
Bitcoin Prediction Statistics Data:
- Bitcoin value now – $20,148
- 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)
Resistance Levels: $24,000, $25,000, $26,000
Support Levels: $17,000, $16,000, $15,000
BTC/USD touches the resistance degree of $20,390 through the European session immediately however the king coin is on the time of writing hovering at $20,148 after dropping from the every day excessive. More so, the place Bitcoin will go subsequent after this retreat is doubtless to rely on the power of the bulls to maintain the worth above the important thing assist at $20,000.
Bitcoin Price Prediction: Would Bitcoin Go Up or Down?
The Bitcoin value stays intact inside the 9-day and 21-day shifting averages; nonetheless, an extra retracement appears imminent and it is doubtless to break under the 21-day shifting common. Meanwhile, trying on the chart, $17,000, $16,000, and $15,000 serves as the foremost assist ranges, making room for BTC to fall even additional. The technical indicator Relative Strength Index (14) is nonetheless shifting above the 50-level, suggesting sideways motion.
However, because the every day chart reveals, if the bulls might push the worth above the higher boundary of the channel, BTC/USD might even see a possible resistance degree at $21,000, any additional motion might ship it to different resistance ranges at $24,000, $25,000, and $25,000 respectively.
BTC/USD Medium-term Trend: Bearish (4H Chart)
Looking on the 4-hour chart, the bears are nonetheless dominating the market because the coin stays under the 9-day and 21-day shifting averages. The bulls failed to push the Bitcoin value above the shifting averages. Meanwhile, if BTC/USD heads towards the higher boundary of the channel, the resistance degree of $21,500 and above could come into play.
However, if the worth breaks under the decrease boundary of the channel and falls extra, the assist ranges of $19,000 and under could come to focus. Meanwhile, because the Relative Strength Index (14) nosedives under 40-level, extra bearish alerts could play out earlier than a rebound might are available in.
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