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The Bitcoin price prediction shows that BTC bulls’ comeback is likely to send the price toward the resistance level of $30,000.
Bitcoin Prediction Statistics Data:
- Bitcoin price now – $28,075
- Bitcoin market cap – $544.5 billion
- Bitcoin circulating supply – 19.5 million
- Bitcoin total supply – 19.5 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: $25,000, $23,000, $21,000
The daily chart shows that BTC/USD is recovering from the support level of $27,853 following a bearish correction. Today, the European session is characterized by a renewed upward trend whereby BTC/USD has recovered from intraday lows to trade around $28,075. Moreover, the Bitcoin price is currently hovering at 0.22% higher on the day as the king coin moves above the 9-day and 21-day moving averages.
Bitcoin Price Prediction: Bitcoin (BTC) Needs to Move Above $30k
The Bitcoin price is yet to stay above the upper boundary of the channel. Therefore, the first digital asset is now moving sideways. On a bullish note, the 9-day MA is hovering above the 21-day MA, suggesting that the Bitcoin price may touch the nearest resistance level of $30,000.
Nevertheless, a strong bullish movement may push the coin above the channel; this could take the price to the resistance levels of $30,000, $32,000, and $34,000. Meanwhile, if the market makes a quick turn to the south, BTC/USD may likely cross below the support level of $27,000, and should this support fail to contain the sell-off, traders may see a further drop to the support levels of $25,000, $23,000, and critically $21,000.
BTC/USD Medium-term Trend: Ranging (4H Chart)
Following the 4-hour chart, Bitcoin (BTC) is trading at around $28,017. Although the Bitcoin price has not yet crossed below $27,500 support, it’s still in the loop of making a reversal. However, the Bitcoin price hovers above the 9-day and 21-day moving averages and may take time to persistently trade above this barrier.
At the moment, BTC/USD is currently moving bearishly but if the bulls step back into the market, the first digital asset may cross above the channel. Moreover, the upward movement may likely cause the coin to hit the nearest resistance level at $29,000 and above while the immediate support lies at $27,000 and below.
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The Bitcoin price may cross above the upper boundary of the channel to target the resistance level of $30,000. However, the daily chart reveals that if the 9-day moving average remains above the 21-day moving average, the king coin will create additional gains.
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