BTC Stays Around $24,500 Level

The Bitcoin worth prediction signifies sideways motion because the coin fails to cross above the higher boundary of the channel.

Bitcoin Prediction Statistics Data:

Bitcoin worth now – $34,000
Bitcoin market cap – $467.0 billion
Bitcoin circulating provide – 19.1 million
Bitcoin complete provide – 19.1 million
Bitcoin Coinmarketcap rating – #1

BTC/USD Long-term Trend: Bearish (Daily Chart)

Key ranges:

Resistance Levels: $34,000, $36,000, $38,000

Support Levels: $19,000, $17,000, $15,000

Buy Bitcoin Now

Your capital is in danger.

BTC/USD is hovering at $24,461 however the king coin has not been in a position to reclaim the resistance degree of $25,000 because the coin consolidates above the 9-day and 21-day shifting averages. At the second, the Bitcoin worth might start to observe the sideways motion, however the every day chart exhibits that the formation of a bullish motion is more likely to play out.

Bitcoin Price Prediction: BTC Price May Consolidates to the Upside

As the Bitcoin worth strikes towards the east, it’s more likely to slide and cross the higher boundary of the channel because the technical indicator Relative Strength Index (14) strikes in the identical path above the 60-level and this might imply that the King coin is prepared for the upside.

Looking at it from above, restoration might set in little by little because the bulls might deliver the king coin above the resistance degree of $25,000. However, a sustainable motion in direction of the north might cross above the channel, which may enable for an prolonged restoration within the path of the potential resistance ranges at $34,000, $36,000, and $38,000. On the draw back, any bearish motion might trigger the Bitcoin worth to hit the helps at $19,000, $17,000, and $15,000.

BTC/USD Medium-term Trend: Bullish (4H Chart)

Looking on the 4-hour chart, the Bitcoin worth is heading in direction of the 9-day and 21-day shifting averages. BTC/USD might cross above the higher boundary of the channel because the market is making an attempt to recuperate from the bearish momentum. However, if the worth is steady above the shifting averages and crosses above the channel, it may find the resistance degree of $25,500 and above.

Moreover, if the bearish motion steps again, the help degree of $24,000 might not have the ability to maintain the promoting strain. Therefore, BTC/USD is more likely to fall to $23,500 and under if the worth strikes towards the decrease boundary of the channel. Nevertheless, the technical indicator Relative Strength Index (14) is shifting under the 60-level to substantiate the sideways motion.

Related