Search Inside Bitcoins

Bitcoin Price Prediction for Today, July 27: BTC Could Reach $20,000 Level; Dips Likely to Surface

Don’t invest unless prepared to lose all the money you invest. This is a high-risk investment, you shouldn’t expect to be protected if something goes wrong.

Bitcoin Price Prediction
Bitcoin Price Prediction

Join Our Telegram channel to stay up to date on breaking news coverage

After touching the daily high of $21,450, the Bitcoin price prediction shows that BTC could begin a downside correction.

Bitcoin Prediction Statistics Data:

  • Bitcoin price now – $21,309
  • Bitcoin market cap – $406.5 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: $15,000, $13,000, $11,000

BTC/USD is moving sideways around the resistance level of $21,309 as buying pressure cooled off. The market price is hovering below the 9-day and 21-day moving averages to form a low at near $21,000 before stabilizing. As of now, BTC/USD is yet to cross above the 9-day moving average but it is up by 0.23%.

Bitcoin Price Prediction: What to Expect from Bitcoin (BTC)

The Bitcoin price prediction is presently ranging. A decisive breakout below $21,000 support may intensify selling pressure. Therefore, if bears push the market price downwards, the consolidation may turn into a bear run. The current sideways movement is likely to continue in the next few days, but the next hurdle for the king coin could emerge at $25,000, but it won’t stop the higher price movements.

However, the technical indicator Relative Strength Index (14) is below the 50-level, a reversal is possible but only if the resistance at $24,000 is reclaimed. The persistence trade above this level may technically push the coin to the resistance levels of $30,000, $32,000, and $34,000 while the supports lie at $15,000, $13,000, and $11,000.

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

Bitcoin (BTC) has not yet slipped below $21,000 since the beginning of today, but the coin is in the loop of making a bounce back. The Bitcoin price hovers within the 9-day and 21-day moving averages and may likely take time to trade above $23,000. At the moment, the Bitcoin price is currently moving around the $21,290 level.

BTCUSD – 4-Hour Chart

However, if the bulls energize the market, the price may likely test the resistance levels of $23,500 and above. In other words, if the bears should drag it downward, then the support levels of $19,500 and below may be visited as the Relative Strength Index (14) moves above 40-level, indicating a bearish signal.

Track the latest price of Bitcoin at CoinCodex.

Read more:

Join Our Telegram channel to stay up to date on breaking news coverage

Read next