Search Inside Bitcoins

Bitcoin Price Prediction: BTC/USD Touches $9,211; May Likely Bounce Back from $9,200

Bitcoin (BTC) Price Prediction – July 13

BTC/USD price is slowly approaching crucial supports and the bears need to be very careful once the price reaches the $9,200 support level.

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

Key levels:

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

Support Levels: $8,800, $8, 600, $8,400

BTCUSD – Daily Chart

BTC/USD is still struggling to maintain its position above $9,500 but its price saw another dive below the $9,250 mark today. The coin is in a dangerous position as the price slipped below the critical supports. If the breakthrough is confirmed, the downside momentum will gain traction with the next focus on $9,200. At the time of writing, Bitcoin is trading around the moving averages of 9-day and 21-day at $9,297.

However, should BTC price failed to move above the channel; we may see a price cut to $9,000 vital support. A further low drive could send the price to $8,800, $8,600, and $8,400 support levels while the resistance levels lie at $9,800, $10,000, and $10,200. The RSI (14) indicator is suggesting a probable sideways movement in the near future as the signal line moves above 51-level.

BTC/USD Medium – Term Trend: Bullish (4H Chart)

BTC/USD is seen performing well at present. But the traders expect the coin to gain the lost momentum and hit the trade above $9,500. As the volatility hovers, the selling pressure still exists which leads the coin to lose the major support around the moving averages. Meanwhile, the $9,150 and below may come into play if BTC breaks below $9,150 support level.

BTCUSD – 4 Hour Chart

However, if the buyers can strengthen and energize the market, they can further push the price to a $9,400 resistance level. Therefore, breaking the mentioned resistance could also allow the bulls to test the $9,450 and above. More so, the technical indicator RSI (14) is seen moving around 55-level, suggesting sideways movement.

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