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The Bitcoin price prediction discloses that BTC could break above the upper boundary of the channel to hit the resistance level of $22,000.
Bitcoin Prediction Statistics Data:
- Bitcoin price now – $20,808
- Bitcoin market cap – $400.8 billion
- Bitcoin circulating supply – 19.2 million
- Bitcoin total supply – 19.2 million
- Bitcoin Coinmarketcap ranking – #1
BTC/USD Long-term Trend: Bullish (Daily Chart)
Key levels:
Resistance Levels: $23,000, $25,000, $27,000
Support Levels: $18,500, $16,500, $14,500
BTC/USD is at the moment trading at $20,808 with a 4.38% gain since the beginning of today’s trading. The Bitcoin price could spike above the upper boundary of the channel and for the king coin to stay above this barrier; it could make many traders feel that the $20,000 support level could be pretty strong.
Bitcoin Price Prediction: Would BTC Price Break Higher?
The Bitcoin price could not drop much cause of today’s trading, but if the first digital coin breaks below the support level of $20,000, it could change the direction of the coin to face the lower boundary of the channel. Alternatively, Bitcoin (BTC) may reclaim the previous resistance level of $21,000 to head to the upside. If successful, BTC/USD could aim at the resistance levels of $23,000, $25,000, and $27,000 respectively.
Nevertheless, the technical indicator Relative Strength Index (14) is hovering within the overbought region as the king coin spikes to a higher level. Moreover, this could mean that there may still be a room that could be explored by the bulls if it remains within the region. On the contrary, the Bitcoin price could retreat a little and the support levels of $18,500, $16,500, and $14,500 may play out.
BTC/USD Medium-term Trend: Bullish (4H Chart)
From a technical point of view, on the 4-hour chart, the technical indicator Relative Strength Index (14) is now hovering within the overbought region, and this confirms the bullish movement. Meanwhile, adding to this, there is a little bit of sideways movement on the Relative Strength Index (14) as the king coin may consolidate before gaining additional bullish movement.
However, if the Bitcoin price breaks below the 9-day and 21-day moving averages, the market price could reach support at $19,000 and below. Meanwhile, if the current market value rises and crosses above the upper boundary of the channel, it could reach the resistance level of $22,500 and above.
Furthermore, Meta Masters Guild (MEMAG) is the most rapidly growing Play-to-Earn guild of this year. It is going to be the biggest mobile gaming guild in Web3. Fun and interesting games, which are compatible with NFTs, are created. And there, community members are rewarded as they speculate and also invest. The MEMAG presale is ongoing and close to $500,000 has been raised so far.
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