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The Bitcoin price prediction shows that BTC is following the bullish movement as the king coin heads to the upside.
Bitcoin Prediction Statistics Data:
- Bitcoin price now – $20,208
- Bitcoin market cap – $386.3 billion
- Bitcoin circulating supply – 19.1 billion
- Bitcoin total supply – 19.1 billion
- Bitcoin Coinmarketcap ranking – #1
BTC/USD Long-term Trend: Ranging (Daily Chart)
Key levels:
Resistance Levels: $23,000, $25,000, $27,000
Support Levels: $18,000, $16,000, $14,000
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BTC/USD is seen pushing the market price above the potential resistance level of $20,000 as buyers need to push the price above the 9-day moving average. However, the Bitcoin price could move with strong bullish momentum after a sustainable break above an important resistance level.
Bitcoin (BTC) Heads to the Upside as Tamadoge (TAMA) Goes Bullish
Looking at the daily chart, the technical indicator Relative Strength Index (14) prepares to cross above the 40-level as the buyers appear to push the Bitcoin price above the 9-day moving average. Moreover, the Bitcoin price seems to be struggling below this barrier, suggesting that BTC/USD could retreat a little bit, before attempting to break higher again.
Nevertheless, the $21,000 level could align with the initial resistance and a daily close above this level could lift the price to the resistance levels of $23,000, $25,000, and $27,000. On the contrary, Bitcoin could retreat and slide below the lower boundary of the channel. However, if it breaks below the channel, the critical supports may be located at $18,000, $16,000, and $14,000 respectively.
BTC/USD Medium-term Trend: Bearish (4H Chart)
According to the 4-hour chart, BTC/USD is currently trading above the 9-day and 21-day moving averages. The king coin could move towards the upper boundary of the channel to hit the resistance level of $22,000 and above. But it is likely to range bound above the moving averages while the buyers may keep the position intact.
However, the Relative Strength Index (14) shows that the BTC price may move sideways as the signal line remains below the 40-level. Therefore, if the coin decides to head to the downside; the support level of $19,000 and below may be located.
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