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Bitcoin Price Prediction – September 23
It obtained that the BYC/USD market goes decline underneath the $20,000 psychological trading line. During yesterday’s trading session, the price traded between the low of $18415.59 and a high of $19456.91. As of the time of writing, the price trades around $18,670.06 at an average negative percentage rate of 3.71.
Bitcoin (BTC) Statistics:
BTC price now – $18,634.06
BTC market cap – $358.1 billion
BTC circulating supply – 19.2 million
BTC total supply – 19.2 million
Coinmarketcap ranking – #1
BTC/USD Market
Key Levels:
Resistance levels: $22,500, $25,000, $27,500
Support levels: $17,500, $15,000, $12,500
BTC/USD – Daily Chart
The daily chart showcases the BTC/USD market goes decline below the horizontal line and the trend line of the smaller SMA. The 14-day SMA indicator is at $20,100.65, below the $22,853.89. A line of short variant smaller bearish candlesticks has been, denoting the intensity of bears at the expense of bulls’ weaknesses. The Stochastic Oscillators are around the 20 range, trying to close the lines at the range points of 15.33 and 15.42. It signifies the pairing instrument will likely
Your capital is at risk.
Can there be more free fall-offs through the BTC/USD trade support level from the $17,500?
More free fall-off through the BTC/USD trade support level from the $17,500 appears unrealistic under the current declining force even though the crypto market goes decline for a while below the $20,000 psychological trading point. It is liable for some pull-downs to occur toward the support value line earlier mentioned to possibly purpose a situation for a rebound that bulls can leverage upon their entries to ride back to the upside.
On the downside of the technical analysis, it has become gradually that the BTC/USD market bears are to relax their trending gravity capacity to push further freely through some support points below the logical $20,000 level. It may be too riskier for sellers to ride on any declining pressure motion in the market toward another pivotal support line around the $17,500 in the near session. Thus, necessary to suspend selling intention around that trading zone to avoid an unprecedented whipsawed trading condition.
BTC/USD 4-hour Chart
The BTC/USD medium-term chart reveals the crypto market goes decline underneath the $20,000 psychological trading level. The situation has relatively got intensively as the trend lines of the SMAs positioned closely below the critical value point. The 50-day SMA indicator is at $19,804.48, above the 14-day SMA indicator’s value point at $19,143.98. The Stochastic Oscillators are in a southbound-crossing mode through the ranges to reach the 58.64 and 41.13 range lines. A smaller bearish candlestick is in the making to signify that the price tends to move toward the $17,500 support level. At this point, selling activity may be put on hold.
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