Bitcoin Price Prediction for Today, March 24: BTC/USD Short-term Bears Could Target $27k ByAzeez MustaphaPRO INVESTOR Updated: 24 March 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 is falling again in a narrow channel after consolidating, but buying interest could pick up if the price approaches $27,000. Bitcoin Prediction Statistics Data: Bitcoin price now – $27,954 Bitcoin market cap – $536.8 billion Bitcoin circulating supply – 19.3 million Bitcoin total supply – 19.3 million Bitcoin coinmarketcap ranking – #1 BTC/USD Long-term Trend: Bullish (Daily Chart) Key levels: Resistance Levels: $33,000, $35,000, $37,000 Support Levels: $24,000, $22,000, $20,000 During the European session today, BTC/USD begins the day with a resistance level of $28,534 and it is now dropping toward the 9-day moving average at the time of writing. However, the psychological barrier of $28,500 still serves as the first important resistance within the market and a sustainable move above the upper boundary of the channel may likely push the price toward the resistance level of $29,000. Bitcoin Price Prediction: Will Bitcoin (BTC) Drop More? On the intraday chart, the Bitcoin price is likely to break below the 9-day moving average, which may increase the selling pressure. At the time of writing, BTC/USD is hovering at $27,864 and if this is cleared, the dips to $27,000 are likely to be bought, which means the overall bullish sentiments may prevail. Moreover, if the price moves below the mentioned support, $25,000 could come into focus which served as support during the previous consolidation period while the critical supports lie at $24,000, $22,000, and $20,000. Looking at the upside, the first resistance may likely come at $28,500 if the king coin rebounded. Once this is done, $29,000 could come back into focus. Further bullish movement may hit the potential resistance levels at $33,000, $34,000, and $36,000 as the Relative Strength Index (14) moves below 70 levels. BTC/USD Medium-term Trend: Ranging (4H Chart) The 4-hour chart shows that the Bitcoin bears are still in play within the market keeping the Bitcoin price below the 9-day and 21-day moving averages. Although BTC/USD has not yet slipped below $27,500, it’s still in the loop of making a bounce back. BTCUSD – 4 Hour Chart Moreover, the Bitcoin price is currently hovering below the moving averages at the time of writing. The upward movement could push the price to the resistance of $31,000 and above while the immediate support lies at $25,000 and below. The Relative Strength Index (14) is moving to cross below the 50-level, which indicates bearish movement. Alternatives to Bitcoin The Bitcoin (BTC) faces rejection thrice at the $28,000 resistance zone as Bitcoin could revisit $27,000, this signals the resumption of selling pressure. Meanwhile, from every indication, the downtrend is likely to extend to the low of $26,000. Notwithstanding the current movement of the king coin, there is another token which is selling so hot in the market. Love Hate Inu (LHINU) is making waves in the market by introducing a novel concept that has never been explored before. At the time of writing, LHINU tokens are in presale, and almost $2m has been raised so far. 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