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The Bitcoin price prediction shows that BTC is retracing above $28,000, and the coin must remain above $28,500 to continue higher.
Bitcoin Prediction Statistics Data:
- Bitcoin price now – $28,149
- Bitcoin market cap – $541.9 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: $33,000, $35,000, $37,000
Support Levels: $24,000, $22,000, $20,000
BTC/USD bulls may slowly come back into action after a minor battering from the bears. If this happens, the expectation of recovery could turn out to be true. Today, BTC/USD touches the daily high at $28,519 after soaring from $27,793. The king coin then pulled back to where it is trading currently and may head downwards if the bears step back into the market.
Bitcoin Price Prediction: BTC Could Move Sideways
The Bitcoin price is deciding around $28,149 above the 9-day and 21-day moving averages, where the buyers and sellers are anticipating a clear breakout or breakdown. Meanwhile, the $29,000 and $29,500 levels may further surface as the key resistances should the $28,500 level holds. However, a strong bullish spike may take the price to $33,000, $35,000, and $37,000 levels.
Moreover, if the market makes a quick turn to the south, the BTC/USD price may drop to $27,000, and should this support fails to contain the sell-off; traders may see a further rollback to $24,000, $22,000, and critical $20,000. Meanwhile, the technical indicator Relative Strength Index (14) suggests an upward movement as the signal line keeps moving above the 60-level.
BTC/USD Medium-term Trend: Ranging (4H Chart)
The 4-hour chart for BTC shows that the king coin is still ranging below the 9-day and 21-day moving averages. However, following the recent rebound at $28,104 which is now a key support level, the next key support level could be found at $27,000 and below.
However, considering the recent sharp rebound, the Bitcoin price may re-enter the bullish rally to the $28,500 resistance. A climb above the mentioned resistance may further push the BTC price to the $29,500 resistance level. As it is now, it seems the bears may likely return to the market as the Relative Strength Index (14) is moving below the 50-level and could resume the downward direction.
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