BTC/USD Keeps Fighting Near $17,000 Level

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The Bitcoin value prediction exhibits that BTC continues to be trying an upside break above $17,000 because the king coin touches the $16,967 stage.

Bitcoin Prediction Statistics Data:

Bitcoin value now – $16,842
Bitcoin market cap – $324.5 billion
Bitcoin circulating provide – 19.2 million
Bitcoin complete provide – 19.2 million
Bitcoin Coinmarketcap rating – #1

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

Key ranges:

Resistance Levels: $21,000, $23,000, $25,000

Support Levels: $14,000, $12,000, $10,000

BTC/USD range-bounds with the promoting strain seen across the $16,829 stage which is stopping it from seeing any main features. BTC might achieve bullish momentum if there’s a each day shut above the $17,000 and $17,200 resistance ranges. Meanwhile, merchants aren’t stunned by the promoting strain as bears try to defend in opposition to a break above the 9-day and 21-day shifting averages. However, till bulls preserve the value above this barrier, the Bitcoin value might proceed to face a chronic sideways motion or drop under the present market worth.

Bitcoin Price Prediction: Bitcoin May Revisit the Downtrends

The Bitcoin value might doubtless slide under the 9-day and 21-day shifting averages because the each day chart exhibits; however, an additional retracement appears imminent and it’s more likely to break under $16,500. Meanwhile, $14,000, $12,000, and $10,000 function the most important assist ranges, ought to in case BTC desires to fall additional. The technical indicator Relative Strength Index (14) is hovering under the 50-level, suggesting bearish motion.

However, because the each day chart reveals, if the bulls might push the value again above the each day excessive at $16,967, BTC/USD might see a possible resistance stage at $17,000, and any bullish cross above the higher boundary of the channel might ship it to the potential resistance ranges at $21,000, $23,000, and $25,000 respectively.

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

Looking on the 4-hour chart, the bears are more likely to come again into the market because the Bitcoin value strikes throughout the 9-day and 21-day shifting averages. The bulls failed to carry the Bitcoin value above the shifting averages. Meanwhile, if BTC/USD breaks above this barrier, the resistance stage of $17,700 and above might come into play.

BTCUSD – 4-Hour Chart

However, if the value breaks to the south and faces the decrease boundary of the channel, the assist stage of $16,200 and under could also be in focus. Nonetheless, because the Relative Strength Index (14) strikes to cross under the 50-level, extra bearish indicators might play out earlier than a rebound might emanate.

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