Bitcoin Price Prediction for Today, April 23: BTC/USD Could Drop Below $27,500 Support ByAzeez MustaphaPRO INVESTOR Updated: 23 April 2023 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 The Bitcoin price prediction reveals that BTC is yet to gain strength above the moving averages as the king coin could risk fresh support. Bitcoin Prediction Statistics Data: Bitcoin price now – $27,684 Bitcoin market cap – $534.2 billion Bitcoin circulating supply – 19.3 million Bitcoin total supply – 19.3 million Bitcoin Coinmarketcap ranking – #1 BTC/USD Long-term Trend: Ranging (Daily Chart) Key levels: Resistance Levels: $34,000, $32,000, $30,000 Support Levels: $22,000, $20,000, $18,000 Looking at the daily chart, BTC/USD may continue to move below the 9-day and 21-day moving averages before heading toward the lower boundary of the channel. The Bitcoin price could begin another decline if bulls failed to push it above the upper boundary of the channel. At the opening of today’s trading; the king coin touches the resistance level of $27,889, but any further bearish movement may push it to the bearish zone. Bitcoin Price Prediction: Would Bitcoin (BTC) Head to Downside? As the Bitcoin price moves sideways, sliding toward the lower boundary of the channel could begin to show bearish signs below the $26,000 and $24,000 levels. However, if the market gains more losses, the price could touch the major supports at $22,000, $20,000, and $18,000. Meanwhile, the technical indicator Relative Strength Index (14) moves below the 70-level, suggesting bearish signals in the market. On the other hand, if the king coin crosses above the upper boundary of the channel; it could begin a bullish movement and the main resistance could be located around the $32,000 level. A clear break above this level could push the price toward the resistance levels of $34,000, $36,000, and $38,000. BTC/USD Medium-term Trend: Ranging (4H Chart) According to the 4-hour chart, the coin may gain lost momentum if it breaks above the 9-day and 21-day moving averages, but at the moment, the volatility still hovers, and the selling pressure may come to focus, which could lead the coin to the downside. Meanwhile, the $25,000 and below may be located if BTC breaks below the lower boundary of the channel. BTCUSD – Daily Chart However, if the buyers can reinforce and power the market, traders can expect a retest at a $28,000 resistance level, and breaking this level may further allow the bulls to reach the resistance level of $31,000 and above. The Relative Strength Index (14) is moving below the 40-level, which shows that the market may move sideways. Alternatives to Bitcoin The Bitcoin price has not been able to reclaim the resistance level of $28,000 as the coin consolidates above the 9-day and 21-day moving averages. At the moment, the Bitcoin price may begin to follow the sideways movement, but the daily chart shows that the formation of a bullish movement is likely to play out. Meanwhile, Love Hate Inu has raised almost $5.5 million already and is burning through the presale stages. With a price increase coming at each new stage, it’s imperative that you buy now if you want to take advantage of the best price. Love Hate Inu - Newest Meme Coin Rating Decentralized Polling - Vote to Earn Doxxed Team - CEO Carl Dawkins Featured in Yahoo Finance, Bitcoinist Mint Memes of Survey Results as NFTs OKX Listing May 19 Learn More Join Our Telegram channel to stay up to date on breaking news coverage