Bitcoin (BTC) Price Prediction – September 25
The Bitcoin price is currently consolidating within the channel and seems to be preparing for the next move.
BTC/USD Long-term Trend: Ranging(Daily Chart)
Resistance Levels: $11,400, $11,600, $11,800
Support Levels: $10,000, $9,800, $9,600
After a tremendous bullish movement of yesterday’s trading, BTC/USD settles below the $10,765 support level and below the 9-day and 21-day moving averages. Today, the price is consolidating losses above the $10,700 level but currently trading at $10,713.93.
Where is BTC Price Going Next?
On the upside, if there is upsides break above $10,800 and $11,000, the Bitcoin price may recover towards the $11,200 and $11,300 level. However, the main resistance for the bulls is near the $11,400, $11,600, and $10,800 levels. Conversely, there could be more losses if there is no break above the moving averages. Meanwhile, the main supports on the downside near $10,400 and $10,300.
However, if there is a downside break below $10,100, the price may accelerate decline towards the $10,000, $9,800, and $9,600 support levels. Meanwhile, the RSI (14) for BTC/USD is currently moving in the same direction around 49-level waiting for the next move.
BTC/USD Medium-Term Trend: Bullish (4H Chart)
Looking technically, BTC/USD is hovering at $10,736, and above the 9-day and 21-day moving averages to mitigate the short-term bearish pressure and allow for an extended recovery towards $11,000. This psychological barrier is closely followed by $11,100 and $11,300 resistance levels.
In contrast, the nearest support is at $10,600, and a sustainable move below the moving averages could increase the downside pressure and push the price towards $10,400 and $10,200 support levels. Considering that the RSI (14) on a 4-hour chart is starting to revert to the upside, traders might expect that the bull’s case scenario may play out.