Bitcoin Price Prediction – September 23
The Bitcoin worth bounces off the help at $43,096 and added greater than $800 to its present worth.
BTC/USD Long-term Trend: Bullish (Daily Chart)
Resistance Levels: $50,000, $52,000, $54,000
Support Levels: $38,000, $36,000, $34,000
BTC/USD is presently buying and selling round $43,997 with a 0.97% achieve up to now 24-hour. According to the day by day chart, the Bitcoin worth is preventing to keep above the vital degree of $45,000 because it strikes shut to the 9-day transferring common. However, for BTC/USD to stay above this degree for the following few days, the bulls want to make the $35,000 help degree to be fairly sturdy.
Bitcoin Price Prediction: Could Bitcoin Price Break Higher?
Since yesterday, the Bitcoin worth has been sustaining little upward motion, and if the primary digital asset breaks above the transferring averages, it may contact the closest resistance degree of $45,000. Moreover, Bitcoin (BTC) wants to reclaim this vital resistance degree to head upwards. If profitable, the first cryptocurrency may subsequently intention on the $48,000 resistance degree.
However, trying on the Relative Strength Index (14) within the day by day vary, one could conclude that BTC/USD is completed with the draw back. Meanwhile, on the upside, restoration could not come straightforward and merchants have to be conscious that help can have to be kind above $45,000 whereas different vital zones to bear in mind are round $50,000, $52,000, and $54,000 resistance ranges.
Nevertheless, regardless of the present motion, the Relative Strength Index (14) is but to keep above 50-level which implies that there should still be a room that could possibly be explored by the bears. If this occurs, the helps at $38,000, $36,000, and $34,000 could play out.
BTC/USD Medium – Term Trend: Bearish (4H Chart)
From a technical standpoint, on the 4-hour chart, the technical indicator Relative Strength Index (14) retains transferring upward and prepared to cross above 50-level. Meanwhile, for this to come to play there is somewhat little bit of bullish divergence on the technical indicator because the sign line faces the north.
However, if the Bitcoin worth stays above the 9-day and 21-day transferring averages, the market worth could probably attain the resistance at $46,000 and above. On the opposite, if the present market worth drops beneath the 9-day and 21-day transferring averages, it might probably contact the help at $42,000 and beneath.
Looking to purchase or commerce Bitcoin (BTC) now? Invest at eToro!
67% of retail investor accounts lose cash when buying and selling CFDs with this supplier