Bitcoin Price Prediction: BTC/USD May Retrace Above $33,000 ByAzeez MustaphaPRO INVESTOR Updated: 14 July 2021 DisclosureWe sometimes use affiliate links in our content, when clicking on those we might receive a commission – at no extra cost to you. By using this website you agree to our terms and conditions and privacy policy. Join Our Telegram channel to stay up to date on breaking news coverage Bitcoin Price Prediction – July 14 The Bitcoin price rebounds from the early dip at $31,600 as the buying interest may increase on approach to $33,000. BTC/USD Long-term Trend: Bearish (Daily Chart) Key levels: Resistance Levels: $36,000, $38,000, $40,000 Support Levels: $30,000, $28,000, $26,000 BTCUSD – Daily Chart Buy Bitcoin Now BTC/USD is bearish as the market established a lower low around $31,600 but currently rebounding to retest previous support at $33,000. The bulls are finding some stiff resistance around the $32,758 on the road to recovery and the path of least resistance appears to the upside in the near term amid a favorable bullish technical setup. Bitcoin Price Prediction: BTC Price Could Head to the North In the past few hours, after the Bitcoin price touches the daily low of $31,600, the king coin has been facing the resistance level of $32,800 and looking forward to touching another resistance level of $33,000. However, the daily chart reveals that if the 9-day moving average crosses above the 21-day moving average, this will determine the next direction that the coin will follow. On the other hand, the Bitcoin price may decline if the $32,000 support breaks down but the price could rise if the $35,000 resistance is touched. Meanwhile, the technical indicator Relative Strength Index (14) is in a range as the signal line point to the east, indicating a sideways movement. Therefore, if the Bitcoin price crosses above the 9-day and 21-day MAs, it could hit the resistance levels of $36,000, $38,000, and $40,000 but moving towards the lower boundary of the channel could meet the supports at $30,000, $28,000, and $26,000. BTC/USD Medium-Term Trend: Ranging (4H Chart) According to the 4-hour chart, the Bitcoin price is seen rebounding as the technical indicator Relative Strength Index moves above 40-level after the king coin touches the low of $31,600. On the upside, if the Bitcoin price stays above the 9-day MA in the short term, bullish influence could spike and the accrued gains massively. BTCUSD – 4 Hour Chart However, the current candle could fall to a tentative support level below the 9-day MA at $32,200. However, the ultimate target remains at $32,000 and below and the best the bulls can do is to hold above the weak support at $33,000 and keep their attention on breaking the resistance at $33,800 and above. Looking to buy or trade Bitcoin (BTC) now? Invest at eToro! Buy Bitcoin Now 75% of retail investor accounts lose money when trading CFDs with this provider Join Our Telegram channel to stay up to date on breaking news coverage