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The Bitcoin price prediction is showing positive signs as the king coin heads to the upside, suggesting further higher levels.
Bitcoin Prediction Statistics Data:
- Bitcoin price now – $18,114
- Bitcoin market cap – $348.4 billion
- Bitcoin circulating supply – 19.2 million
- Bitcoin total supply – 19.2 million
- Bitcoin Coinmarketcap ranking – #1
BTC/USD Long-term Trend: Bearish (Daily Chart)
Key levels:
Resistance Levels: $21,500, $22,500, $23,500
Support Levels: $15,500, $14,500, $13,500
BTC/USD climbs above the resistance level of $18,000 as the new month’s high beckons. The Bitcoin price sets its eye on $20,000 and the king coin will continue to enjoy a sharp uptrend as long the crypto can keep this trend up. Meanwhile, the Bitcoin price is within touching distance of forming another high above the previous high of $18,000, which is quite remarkable.
Bitcoin Price Prediction: Where is Bitcoin Price Going Next?
The Bitcoin price is trading comfortably towards the upper boundary of the channel as the price establishes a new bullish signal. At the moment, traders could say that the long-term outlook favors the bulls, giving the daily close produced a large bullish engulfing candle with eyes now set on the daily resistances at $21,500, $22,500, and $23,500 respectively.
On the contrary, any drop from the current level could lead to declines in the critical support below the 9-day and 21-day moving averages. However, in case BTC drops and revisits the low of $17,731 support, then the coin can rely on the long-term support levels at $15,500, $14,500, and $13,500. Moreover, the technical indicator Relative Strength Index (14) is now moving above the 60-level, suggesting more bullish signals.
BTC/USD Medium-term Trend: Bullish (4H Chart)
According to the 4-hour chart, the Bitcoin price is seen trading above the 9-day and 21-day moving averages at $18,101. However, today’s price move happens to be an impressive one as it climbs above the long-awaited resistance level of $18,000 with a sharp upsurge. On that note, BTC/USD is now maintaining its bull run as the technical indicator Relative Strength Index (14) moves within the overbought region.
In other words, BTC may take a downward move if the bulls failed to push the price higher, and the coin may breach below the 9-day and 21-day moving averages, which could hit the support at $17,200 and below. Nevertheless, if the bulls find a decent resistance level of above $18,000, the king coin may cross above the channel which could hit the resistance level of $19,000 and above.
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