Bitcoin Price Prediction for Today, May 23: BTC/USD Stabilizes Above the $27,000 Level ByAzeez MustaphaPRO INVESTOR Updated: 23 May 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 shows that BTC is trading at $27,219 as the coin seems to be preparing for an upward movement. Bitcoin Prediction Statistics Data: Bitcoin price now – $27,219 Bitcoin market cap – $526.8 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: $34,000, $36,000, $37,000 Support Levels: $21,000, $19,000, $17,000 BTC/USD is likely to cross above the 9-day and 21-day moving averages at $27,219 as the coin prepares to follow the upward movement. At the time of writing, the king coin is likely to extend toward the resistance level of $28,000 if the bulls put in more effort. Bitcoin Price Prediction: Bitcoin (BTC) May Hit $28k Resistance The Bitcoin price could begin to head toward the upside as the king coin moves to cross above the 9-day and 21-day moving averages, any further bullish movement above this barrier could locate the potential resistance levels at $34,000, $36,000, and $37,000. Nevertheless, if BTC/USD soars to the upper boundary of the channel, this could be a sign of sustainability and may likely result in a bullish continuation. However, if the Bitcoin price fails to move up; traders could see a price cut below the lower boundary of the channel, and a further low could bring the price to the support levels at $21,000, $19,000, and $17,000 respectively. But as it stands, the Bitcoin price is likely to spike as the technical indicator Relative Strength Index (14) moves to cross above the 50-level. BTC/USD Medium-term Trend: Ranging (4H Chart) According to the 4-day chart, the Bitcoin price is hovering above the 9-day and 21-day moving averages. However, suppose the bulls push the market above this upper boundary of the channel, traders may expect a retest of the $28,000 resistance level, breaking this level may further push the price toward the resistance level of $28,500 and above as the technical indicator Relative Strength Index (14) remains above the 50-level, which is suggesting a sideways movement. BTCUSD – 4-Hour Chart However, if the bulls failed to push the market above the channel, traders may expect a break below the moving averages, and breaking below this barrier may further bring the price toward the critical support level of $26,200 and below. Alternatives to Bitcoin The Bitcoin price is hovering below the 9-day and 21-day moving averages at $ 27,219 as the coin prepares to establish a bullish movement. At the time of writing, the first digital asset is likely to extend toward the resistance level of $28,000 if the bulls increase the buying pressure. Nevertheless, AiDoge is the latest blockchain project to capitalize on the rapid growth of artificial intelligence (AI). This new project has built a decentralized tool that enables users to instantly create unique memes from simple text prompts. Meanwhile, AIDoge is attracting attention for its unique AI meme generation utility and about $12 million has been raised in the presale. Wall Street Memes - Next Big Crypto Rating Early Access Presale Live Now Established Community of Stocks & Crypto Traders Featured on BeInCrypto, Bitcoinist, Yahoo Finance Rated Best Crypto to Buy Now In Meme Coin Sector Team Behind OpenSea NFT Collection - Wall St Bulls Tweets Replied to by Elon Musk Learn More Join Our Telegram channel to stay up to date on breaking news coverage