Search Inside Bitcoins

Bitcoin Price Prediction: BTC/USD Struggles To Hold Above $9,200

Bitcoin (BTC) Price Prediction – July 18

The price of Bitcoin clings to small recovery gains as the price stays below $9,200.

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

Key levels:

Resistance Levels: $9,800, $10,000, $10,200

Support Levels: $8,500, $8,300, $8,100

BTCUSD – Daily Chart

After posting a small daily gain yesterday, BTC/USD is relatively calm during the first trading session of today as the coin stages a modest rebound. However, BTC/USD struggles to preserve its bullish momentum to find resistance near $9,200. At the time of writing this, Bitcoin is up with 0.26% gains on the day at $9,177.86.

Meanwhile, the RSI (14) indicator on the daily chart stays very close to 50-level while BTC/USD is trading around the lower boundary of the channel, suggesting that the pair could have a tough time in posting any additional recovery gains as the critical supports lie at $8,500, $8,300, and $8,100 respectively. On the upside, $9,200 aligns as the initial resistance ahead of $9,400 and $9,796.91 which was June 22 high.

Moreover, the current level where the coin is trading is very important for the bulls and it is expected to be between $9,100 and $9,300 which could help the buyers to surpass the resistance of $9,400 and $9,600 level. Reaching these resistance levels may allow the Bitcoin price to touch $9,800, $10,000, and $10,200 resistance levels.

BTC/USD Medium-Term Trend: Bearish (4H Chart)

On the 4 hour chart, BTC/USD is seen touching the daily high of $9,210 resistance level. At the moment, the bulls could not sustain the upward move as price quickly makes a downward move. The most important thing is that the support level of $9,100 and $8,900 must hold for an upward movement.

BTCUSD – 4 Hour Chart

Today, after the rebound, Bitcoin reached a high of $9,210 but has fallen to $9,152 before peaking to where it is currently trading at $9,181.43. BTC/USD is presently trading above 50-level of the technical indicator RSI (14). It indicates that the market is in bullish momentum. The coin is expected to reach the resistance level of $9,250 and above if the current price breaks above the channel.

Read next

InsideBitcoins uses cookies to improve and customize your user experience. Learn more

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

Close