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The Bitcoin worth prediction reveals that BTC is retracing its current losses, and it’s correcting positive factors and would possibly decline in the direction of the $16,500 assist.
Bitcoin Prediction Statistics Data:
- Bitcoin worth now – $16,906
- Bitcoin market cap – $325.5 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, $24,000
Support Levels: $15,000, $13,000, $11,000
BTC/USD begins a gradual improve above the resistance stage of $17,000 as the king coin touches the day by day excessive at $17,108 stage and settled above the 9-day and 21-day shifting averages. The bulls might proceed to discover some resistance ranges above shifting averages on the street to restoration and the trail of least resistance seems to the upside within the close to time period amid a good bullish technical setup.
Bitcoin Price Prediction: BTC Price Could Face Bulls
The Bitcoin worth touches the day by day low at $16,791.02, which is beneath the opening worth of in the present day. The king coin is possible to face the resistance stage of $18,000 by trying ahead to reclaiming the resistance stage of $17,000. Besides, there was a break beneath a serious bullish development line with assist close to $16,750 on the day by day chart of the BTC/USD pair. Nevertheless, the Bitcoin worth is nonetheless hovering above $16,650 and the 9-day and 21-day shifting averages.
Meanwhile, the technical indicator Relative Strength Index (14) is shifting beneath the 50-level, indicating a bearish motion. Therefore, if the Bitcoin worth faces the higher boundary of the channel, it may hit the resistance ranges of $20,000, $22,000, and $24,000, however any motion beneath the shifting averages may hit the helps at $15,000, $13,000, and $11,000.
BTC/USD Medium-term Trend: Ranging (4H Chart)
According to the 4-hour chart, the Bitcoin worth might head to the draw back as the technical indicator Relative Strength Index (14) crosses beneath the 60-level. On the upside, if the Bitcoin worth stays above the 9-day shifting common within the brief time period, bullish affect may spike, and the accrued positive factors massively.
However, the present candle might goal the assist stage at $16,000 and beneath, however one of the best the bulls can do is to maintain the present market worth of $16,912 and preserve their consideration on breaking the potential resistance at $18,000 and above.
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