Bitcoin Price Prediction: BTC/USD Prints A Bearish Pattern To $47,228 ByAzeez MustaphaPRO INVESTOR Updated: 16 September 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 – September 16 The Bitcoin price prediction shows BTC dropping from $48,499 to $47,228 in less than a few hours but managed to recover a little bit. BTC/USD Long-term Trend: Ranging (Daily Chart) Key levels: Resistance Levels: $52,000, $54,000, $56,000 Support Levels: $44,000, $42,000, $40,000 BTCUSD – Daily Chart Buy Bitcoin Now BTC/USD is trading down marginally at its current price of $47,635 as the coin is falling below the 9-day moving average and undergoing rejections at $48,499 which is not positive for the bull case. Although the bulls have tried and failed on multiple separate occasions to gather enough buying pressure to break the $48,500 resistance level, each attempt has failed simultaneously. Bitcoin Price Prediction: Bitcoin (BTC) May Drop Further The Bitcoin price is currently trading below the 9-day moving average after an attempt by the bears to take the price down to $47,000. The move happened in less than one hour after Bitcoin touched the daily high of $49,499 which is an important resistance level on the daily chart but the bears manage to retreat from the daily high to $47,635 where it is currently trading. However, it is important to note that Bitcoin’s inability to post any sustained closes above the $48,000 level shows that it is currently plagued by underlying weakness. This consolidation phase has given rise to a plethora of bearish divergences that may cause the cryptocurrency to see a notable retrace in the days ahead. Moreover, the potential resistance levels for the coin are located at $52,000, $54,000, and $56,000 while the critical supports lie at $44,000, $42,000, and $40,000 as the Relative Strength Index (14) moves to the south, suggesting more bearish signals. BTC/USD Medium-Term Trend: Ranging (4H Chart) On the 4-Hour chart, the immediate support is below the 9-day moving average at the $47,000 level. The price may likely fall below this level if the bears fully stepped back into the market, a further movement could test the critical support at the $46,000 level and below while the resistance is located above the upper boundary of the channel at $50,000 and above. BTCUSD – 4 Hour Chart Looking at it technically, the Bitcoin price is currently moving sideways as the technical indicator Relative Strength Index (14) moves above 60-level. Looking to buy or trade Bitcoin (BTC) now? Invest at eToro! Buy Bitcoin Now 67% of retail investor accounts lose money when trading CFDs with this provider Read more: How to buy Bitcoin How to buy cryptocurrency Join Our Telegram channel to stay up to date on breaking news coverage