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The Bitcoin price prediction indicates bearish movement as the coin fails to cross above the 9-day and 21-day moving averages.
Bitcoin Prediction Statistics Data:
- Bitcoin price now – $16,541
- Bitcoin market cap – $318.7 billion
- Bitcoin circulating supply – 19.2 million
- Bitcoin total supply – 19.2 million
- Bitcoin Coinmarketcap ranking – #1
Bitcoin Price Long-term Trend: Bearish (Daily Chart)
Key levels:
Resistance Levels: $20,000, $21,000, $22,000
Support Levels: $14,000, $13,000, $12,000
BTC/USD is hovering at $16,541.81 but the king coin has not been able to cross above the 9-day and 21-day moving averages. At the moment, the Bitcoin price may continue to follow the bearish movement, but the daily chart shows that the formation of a bullish movement is likely to play out.
Bitcoin Price Prediction: BTC Price May Consolidates to the Upside
As the Bitcoin price moves toward the east, it is likely to rise and head toward the 9-day and 21-day moving averages. The technical indicator Relative Strength Index (14) keeps moving below the 40-level and this could mean that the king coin may be ready for the upside.
Looking at it from above, recovery may set in bit by bit as the bulls may bring the king coin above the resistance level of $17,000. However, a sustainable movement towards the north may cross above the moving averages, which could allow for an extended recovery in the direction of the potential resistance levels at $20,000, $21,000, and $22,000. On the downside, any bearish movement may cause the Bitcoin price to hit the supports at $14,000, $13,000, and $12,000.
BTC/USD Medium-term Trend: Bearish (4H Chart)
Looking at the 4-hour chart, the Bitcoin price is likely to cross above the 9-day and 21-day moving averages. BTC/USD may head to the upside as the market is trying to recover from the bearish momentum. However, if the price faces the upside, it could locate the resistance level of $20,000 and above.
Moreover, if the bearish movement steps back, the support level of $16,000 may not be able to hold the selling pressure. Therefore, BTC/USD is likely to fall to $14,000 and below if the price crosses the lower boundary of the channel. Nevertheless, the technical indicator Relative Strength Index (14) is likely to slide below the 40-level to confirm the bearish movement.
The IMPT Token Presale Offers a Rare Investment Opportunity
The Impact Token is currently in the pre-sale phase. So far, the digital asset raises nearly $13 million in just one month.
D2T Token Price Is a Good Bargain
BitMart now has Dash 2 Trade listed after the pre-sale, along with LBank to get the token listed too. The D2T pre-sale is selling out fast and has already raised about $6 million for the future development of the platform.
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