After touching the each day excessive of $21,365, the Bitcoin value prediction is down to contact a low of $21,143; no fast restoration appears doable for now.
Bitcoin Prediction Statistics Data:
- Bitcoin value now – $21,232
- Bitcoin market cap – $407.5 billion
- Bitcoin circulating provide – 19.1 million
- Bitcoin complete provide – 19.1 million
- Bitcoin Coinmarketcap rating – #1
BTC/USD Long-term Trend: Ranging (Daily Chart)
Resistance Levels: $25,000, $27,000, $29,000
Support Levels: $18,000, $16,000, $14,000
After forming a short-term high, BTC/USD value slides towards the 9-day and 21-day shifting averages as the value consolidates round $21,232, with just a few bearish indicators. However, the current correction to the upward failed close to the $21,265 degree and it looks as if Bitcoin bulls are struggling to acquire momentum above this degree.
Bitcoin Price Prediction: Would Bitcoin Head to the Downside?
The Bitcoin value is at present hovering above the 9-day and 21-day shifting averages. On the draw back, the $21,000 and $20,000 ranges are preliminary helps. Therefore, if the bulls fail to defend the current low of $21,143, there is a danger of a pointy decline. However, if the bears drag the value below the decrease boundary of the channel, then, Bitcoin (BTC) might drop to the vital helps of $18,000, $16,000, and $14,000 respectively.
Nevertheless, if there is a transparent break above the higher boundary of the channel, the Bitcoin value might hit the $22,000 resistance degree. If the bulls handle to acquire power above $23,000, there are possibilities of an honest restoration towards the $24,000 resistance space. More so, the important thing breakout zone is close to the $25,000, $27,000, and $29,000 resistance ranges. Meanwhile, the Relative Strength Index (14) for BTC/USD is shifting above the 60-level, suggesting extra sideways motion.
BTC/USD Medium-term Trend: Ranging (4H Chart)
The Bitcoin value is in the mean time hovering below the 9-day shifting common, bringing its value from $21,270 to attain a low of $21,189. More so, if the value drops additional, it might attain the assist ranges of $20,500 and below.
Moreover, if the bulls push the coin above the higher boundary of the channel, the Bitcoin value could seemingly hit the potential resistance ranges of $22,500 and below. At the second, the market is bearish because the Relative Strength Index (14) indicator prepares to cross below the 60-level.
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