Search Inside Bitcoins

Bitcoin Price Prediction: BTC/USD Could Obtain Strong Support Below $19k

Bitcoin Price Prediction for Today, October 1: BTC/USD Could Obtain Strong Support Below $19k
Bitcoin Price Prediction for Today, October 1: BTC/USD Could Obtain Strong Support Below $19k

Join Our Telegram channel to stay up to date on breaking news coverage

The daily chart reveals that the Bitcoin (BTC) price may extend the bearish movement to the areas below the support level of $19,000.

Bitcoin Prediction Statistics Data:

  • Bitcoin price now – $19,335
  • Bitcoin market cap – $370.6 billion
  • Bitcoin circulating supply – 19.1 million
  • Bitcoin total supply – 19.1 million
  • Bitcoin Coinmarketcap ranking – #1

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

Key levels:

Resistance Levels: $23,000, $25,000, $27,000

Support Levels: $17,000, $15,000, $13,000

Buy Bitcoin Now

Your capital is at risk

BTC/USD falls below $19,500 once again as the first digital asset embarks on support after the coin failed to hold above the resistance level of $20,000. According to the daily chart, the bearish control is seen across the market as the sellers are making effort to increase the bearish movement.

Bitcoin Price Prediction: BTC  Could Touch $19k Support

The Bitcoin price is hovering at $19,335 with an intraday loss of 0.46%. Looking at the daily chart, the prevailing trend is bearish with expanding volatility as the first digital asset is likely to consolidate in a bearish flag pattern. Meanwhile, a breakdown below the moving averages is supposed to continue in the direction of the previous trend. In this case, BTC/USD is expected to drop and stay below to hit the critical support levels at $17,000, $15,000, and $13,000.

However, should the Bitcoin price return above the moving averages; the price could rise to the nearest resistance at $20,000. A further bullish drive could push the price to $23,000, $25,000, and $27,000 resistance levels. The technical indicator Relative Strength Index (14) is revealing a sideways movement, which shows that the market may continue to range.

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

At the opening of the market today, the Bitcoin price faces up to touch the resistance level of $19,401 but may likely drop towards the channel, bringing its price to trade around $19,338. Meanwhile, should the price stay below the 9-day and 21-day moving averages, it is likely for the coin to head towards the lower boundary of the channel to reach the support level at $18,500 and below.

BTCUSD – 4-Hour Chart

Moreover, if the bulls push the coin above the 9-day and 21-day moving averages, the Bitcoin price could revisit the resistance level of $20,500 and above. Presently, the market may begin to move sideways or experience slight uptrends as the Relative Strength Index (14) indicator moves below 50-level.

Tamadoge - Play to Earn Meme Coin

Our Rating

Tamadoge logo
  • Earn TAMA in Battles With Doge Pets
  • Maximum Supply of 2 Bn, Token Burn
  • Now Listed on OKX, Bitmart, LBank, MEXC, Uniswap
  • Ultra Rare NFTs on OpenSea
Tamadoge logo

Join Our Telegram channel to stay up to date on breaking news coverage

Read next

X

Can This New Token Presale 100x?

Can This New Token Presale 100x?

Can This New Token Presale 100x?

X