Bitcoin Price Prediction: BTC/USD Stays Above $47,500 Level ByAzeez MustaphaPRO INVESTOR Updated: 01 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 1 The Bitcoin price retested the $46,500 support level as it is now rising, but it must stay above $47,500 for a steady increase. 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 currently recovering from the $46,537 support zone as the Bitcoin price needs to cross above the 9-day and 21-day moving averages to keep the uptrend intact. The daily chart reveals that traders could see that the king coin is yet to cross above the 9-day MA and this could mean that the Bitcoin price may drop to retest the $46,000 support. Bitcoin Price Prediction: Would Bitcoin Price Stay Higher? As seen on the daily chart, the Bitcoin price is moving closer to the 21-day MA as the coin begins the new month with a new note. In the meantime, traders could see that the Bitcoin price has continued to converge above the key level of $47,000. The Relative Strength Index (14) moves toward 55-level in an attempt to probably cross back to the north. That signals that the return of a bullish uptrend may come to play. However, the first major resistance is near the $48,000 level, therefore, a clear break above the $50,000 level could set the pace for a larger increase to $52,000, $54,000, and $56,000 resistance levels. On the contrary, if the Bitcoin price fails to clear the $47,000 resistance, it could start a new decline as the initial support on the downside is near the $46,000 level. If there is a downside break below the $45,500 support and $45,000, the price could see a sharp decline towards the support levels of $44,000, $42,000, and $40,000 respectively. BTC/USD Medium – Term Trend: Ranging (4H Chart) The 4-hour chart for BTC shows that the coin is following a sideways movement. However, the Bitcoin price is currently crossing below the 9-day and 21-day moving averages. Any further bearish movement could hit the key support level at $46,500 and below. BTCUSD – 4 Hour Chart However, considering the recent sharp rebound, the Bitcoin price may move back above the $47,500 resistance. A climb above the mentioned resistance may further push the BTC price to the resistance level of $48,500 and above. As it appeared now, it seems the bears may likely return to the market as the Relative Strength Index (14) is now moving below 50-level, suggesting bearish movement. 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