Search Inside Bitcoins

Bitcoin Price Prediction: BTC/USD Trades Below $45,000

Bitcoin Price Prediction
Bitcoin Price Prediction

Bitcoin Price Prediction – September 13

The Bitcoin price is following a 3.91% price decline over the past 24 hours as the cryptocurrency fails at $46,900 and heads lower.

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

Key levels:

Resistance Levels: $50,000, $52,000, $54,000

Support Levels: $40,000, $38,000, $36,000

Bitcoin Price Prediction
BTCUSD – Daily Chart

BTC/USD loses its momentum after touching key resistance above $46,900. As of writing, the king coin is down 3.91% on the day at $44,222 trading around the lower boundary of the channel. Meanwhile, looking at the daily chart, Bitcoin is struggling to close above $44,000 and once it does this, it should be free to rise well above $45,000 in the next positive direction.

Bitcoin Price Prediction: Bitcoin (BTC) Gets Ready for the Downside

According to the daily chart, the Bitcoin price is not likely to close above the resistance level of $47,000. The coin has really been struggling to break this region over the past 5-days of trading. However, in today’s session, the coin attempted to push higher as it reaches $46,900, but the sellers then stepped in and push the coin lower to reach the current level at $44,222.

Nevertheless, $42,000 serves as the nearest support level, which may likely make room for the coin to fall further with the next critical supports at $40,000, $38,000, and $36,000. The technical indicator Relative Strength Index (14) is moving to cross below 40-level to indicate a downtrend movement. On the contrary, BTC/USD may likely see the resistance levels of $50,000, $52,000, and $54,000 if it crosses above the 9-day and 21-day moving averages.

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

On the 4-Hour chart, the Bitcoin price is hovering around $44,453 and may take time to persistently trade above $45,000. Moreover, if the bulls gather enough strength and regroup, the upward movement may be able to near the $50,000 and $52,000 resistance level.

BTCUSD – 4 Hour Chart

Looking at the downside, if the price crosses below the lower boundary of the channel, immediate support is likely to be found around the $42,000 level. However, the price may likely fall below $41,500 if the bears pump enough pressure into the market, therefore, a further movement could reach the critical support at the $40,000 level and below. On the other hand, Bitcoin (BTC) is currently moving in sideways as the technical indicator Relative Strength Index (14) moves below 40-level, indicating an indecisive market movement.

Looking to buy or trade Bitcoin (BTC) now? Invest at eToro!

67% of retail investor accounts lose money when trading CFDs with this provider

Read more:

Read next

Don't see the answer that you're looking for?

Ask us Now!

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.