After touching the each day excessive of $21,450, the Bitcoin worth prediction reveals that BTC might start a draw back correction.
Bitcoin Prediction Statistics Data:
Bitcoin worth now – $21,309
Bitcoin market cap – $406.5 billion
Bitcoin circulating provide – 19.1 million
Bitcoin whole provide – 19.1 million
Bitcoin Coinmarketcap rating – #1
BTC/USD Long-term Trend: Bearish (Daily Chart)
Key ranges:
Resistance Levels: $30,000, $32,000, $34,000
Support Levels: $15,000, $13,000, $11,000
BTC/USD is shifting sideways across the resistance stage of $21,309 as shopping for strain cooled off. The market worth is hovering beneath the 9-day and 21-day shifting averages to type a low at close to $21,000 earlier than stabilizing. As of now, BTC/USD is but to cross above the 9-day shifting common however it’s up by 0.23%.
Bitcoin Price Prediction: What to Expect from Bitcoin (BTC)
The Bitcoin worth prediction is presently ranging. A decisive breakout beneath $21,000 help could intensify promoting strain. Therefore, if bears push the market worth downwards, the consolidation could flip right into a bear run. The present sideways motion is probably going to proceed within the subsequent few days, however the subsequent hurdle for the king coin might emerge at $25,000, nevertheless it received’t cease the upper worth actions.
However, the technical indicator Relative Strength Index (14) is beneath the 50-level, a reversal is feasible however provided that the resistance at $24,000 is reclaimed. The persistence commerce above this stage could technically push the coin to the resistance ranges of $30,000, $32,000, and $34,000 whereas the helps lie at $15,000, $13,000, and $11,000.
BTC/USD Medium-term Trend: Ranging (4H Chart)
Bitcoin (BTC) has not but slipped beneath $21,000 for the reason that starting of at this time, however the coin is within the loop of constructing a bounce again. The Bitcoin worth hovers throughout the 9-day and 21-day shifting averages and will possible take time to commerce above $23,000. At the second, the Bitcoin worth is at the moment shifting across the $21,290 stage.
However, if the bulls energize the market, the worth could possible check the resistance ranges of $23,500 and above. In different phrases, if the bears ought to drag it downward, then the help ranges of $19,500 and beneath could also be visited because the Relative Strength Index (14) strikes above 40-level, indicating a bearish sign.
Track the most recent worth of Bitcoin at CoinCodex.
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