Bitcoin Price Prediction for Today, August 2: BTC Resumes Consolidation, Will it Plunge Below $23K? ByAzeez MustaphaPRO INVESTOR Updated: 02 August 2022 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 shows that BTC is trading at $23,346 as the coin seems to be preparing for a bullish movement. Bitcoin Prediction Statistics Data: Bitcoin price now – $23,346 Bitcoin market cap – $446.2 billion Bitcoin circulating supply – 19.1 million Bitcoin total supply – 19.1 million Bitcoin Coinmarketcap ranking – #1 BTC/USD Long-term Trend: Bearish (Daily Chart) Key levels: Resistance Levels: $30,000, $32,000, $34,000 Support Levels: $18,000, $16,000, $14,000 Buy Bitcoin Now Despite carrying the highest market capitalization, BTC/USD seems to be waiting for an opportunity for a breakout in either a positive or negative. The first digital crypto is trading above the 9-day and 21-day moving averages. However, the Bitcoin price is likely to extend towards the resistance level of $24,000 if it crosses above the channel. Bitcoin Price Prediction: Is $25k Resistance Coming for BTC? It is likely for the first digital asset to touch the resistance level of $25,000 as the Bitcoin price remains above the 9-day and 21-day moving averages. Any further bullish movement above this barrier may locate the potential resistance levels at $30,000, $32,000, and $34,000. Meanwhile, when the new uptrends are gathering, traders may use the moving averages as a pivot resistance point to gauge the strength of the trend. Therefore, if BTC/USD soars toward the upper boundary of the channel, this could be a sign of sustainability and could result in a bullish continuation. On the contrary, if the BTC price fails to move up; traders may see a price cut below the moving averages, and a further low could bring the price to the support levels at $18,000, $16,000, and $14,000 respectively. For now, the Bitcoin price is likely to rise as the technical indicator Relative Strength Index (14) may cross above the 60-level. BTC/USD Medium-term Trend: Ranging (4H Chart) According to the 4-hour chart, the Bitcoin price is moving bullishly as the bulls are coming back into the market. The king coin is likely to cross above the 9-day and 21-day moving averages, if not, the support level of $21,000 and below may come into focus. BTCUSD – 4-Hour Chart However, if the bulls push the market above the 9-day and 21-day moving averages, traders may expect a touch of the $24,000 resistance level, breaking this level may further push the price towards the resistance level of $26,000 and above while the technical indicator Relative Strength Index (14) moves to cross above the 50-level, suggesting a bullish signal. AiDoge - New Meme to Earn Crypto Our Rating Earn Crypto For Internet Memes First Presale Stage Open Now, CertiK Audited Generate Memes with AI Text Prompts Staking Rewards, Voting, Creator Benefits Join Presale Read more: How to buy Bitcoin How to buy Cryptocurrency Join Our Telegram channel to stay up to date on breaking news coverage