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The Bitcoin price prediction sees a 0.53% decline over the past few hours as the cryptocurrency fails at $26,462 and could head lower.
Bitcoin Prediction Statistics Data:
- Bitcoin price now – $26,265
- Bitcoin market cap – $509.7 billion
- Bitcoin circulating supply – 19.3 million
- Bitcoin total supply – 19.3 million
- Bitcoin Coinmarketcap ranking – #1
BTC/USD Long-term Trend: Bearish (Daily Chart)
Key levels:
Resistance Levels: $32,000, $34,000, $36,000
Support Levels: $21,000, $19,000, $17,000
BTC/USD loses its momentum after touching key resistance above $26,462. As of writing, the king coin is down 0.53% on the day at $23,265 below the 9-day and 21-day moving averages. Meanwhile, Bitcoin may struggle to close above $26,500, and if it does, it should be free to rise well above $27,000 if it moves toward the upper boundary of the channel.
Bitcoin Price Prediction: Can Bitcoin Price Trade Above $27,000?
According to the daily chart, the Bitcoin price could slide below the lower boundary of the channel if the bears increase the pressure. Over the past few days, the king coin has been struggling to cross above the moving averages. In today’s session, the Bitcoin price attempted to push higher, but the sellers stepped into the market to bring the market price lower to touch the daily low of $25,950.
Moreover, if the coin moves lower, the $25,500 may serve as the nearest support level, which may likely make room for the coin to fall further to hit the supports at $21,000, $19,000, and $17,000. The Relative Strength Index (14) remains below the 40- level, which could follow the downward movement. On the contrary, BTC/USD may likely face the upper boundary of the channel to hit the resistance levels of $32,000, $34,000, and $36,000.
BTC/USD Medium-term Trend: Bearish (4H Chart)
On the 4-Hour chart, the BTC price hovers around $26,369 and may likely cross above the 9-day and 21-day moving averages. However, if the bulls gather enough strength, the upward movement may be near the resistance level of $27,500 and above.
On the downside, immediate support could be located around the $26,000 level while critical support is at $25,500 and below. Therefore, the Bitcoin price may likely cross above the moving averages if the bulls put more pressure on the market, Moreover, the Relative Strength Index (14) may cross above the 40-level, suggesting a bullish movement.
Alternatives to Bitcoin
The Bitcoin price could face a setback that could be a permanent one if the bears return to the market. The king coin is likely to have an additional bearish run if the market price heads to the south. However, it is likely that the red line of the 9-day moving average remains below the green line of the 21-day moving average to keep the coin at the downside. However, AiDoge is poised to take over as the king of meme coins. It will be the market’s first AI-driven meme-generation site. The technology will have a vast knowledge of the crypto industry so will be able to aid users with templates and other helpful tools to make the best memes they are capable of. The token is still in the presale and it has raised almost $12 million so far.
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