{"id":258149,"date":"2020-04-21T16:52:30","date_gmt":"2020-04-21T20:52:30","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=258149"},"modified":"2020-04-21T16:52:30","modified_gmt":"2020-04-21T20:52:30","slug":"bitcoin-price-prediction-btc-usd-creeps-towards-6900-following-rejection-at-7000","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/bitcoin-price-prediction-btc-usd-creeps-towards-6900-following-rejection-at-7000","title":{"rendered":"Bitcoin Price Prediction: BTC\/USD Creeps towards $6,900 Following Rejection at $7,000"},"content":{"rendered":"

Bitcoin (BTC) Price Prediction \u2013 April 21<\/strong><\/p>\n

BTC\/USD is trading below the big $7000, suggesting vulnerabilities to the downside.<\/p>\n

BTC\/USD Long-term Trend: Bullish (Daily Chart)<\/h4>\n

Key levels:<\/p>\n

Resistance Levels: $7,800, $8,000, $8,200<\/p>\n

Support Levels: $6,000, $5,800, $5,600<\/p>\n

\"\"<\/a>
BTCUSD – Daily Chart<\/figcaption><\/figure>\n

Looking at the daily chart, BTC\/USD<\/a> is seen trading below the 9-day and 21-day moving averages, with support close to $6,600 on the daily chart. However, if another decline occurs below the trend line of the ascending channel, the price could extend its downward correction to the $6,500 level and any other loss could possibly push the price of Bitcoin to the support level of $6,400.<\/p>\n

More so, after 2 days of the bearish movement, the Bitcoin price is seen rising and trading at $6,902. A further rise may take the market to the potential resistance levels at $7,800, $8,000 and $8,200. In other words, if the market were to reverse one more time, we could see the next selling pressure towards the support levels of $6,000, $5,800 and $5,600. Nevertheless, BTC still maintains a bullish trend on the daily chart, with the signal lines of MACD moving to cross into the positive side.<\/p>\n

BTC\/USD Medium-Term Trend: Ranging (4H Chart)<\/h4>\n

Looking at the four-hour chart, Bitcoin failed in an endeavor to break above the 9-day and 21-day moving averages. This is plausibly why the bears are fuelled to push the price to lower levels. Meanwhile, Bitcoin is trading at $6,880.85, although it opened the session at $6,828 and this represents a 0.62% gains on the day.<\/p>\n

\"\"<\/a>
BTCUSD – 4 Hour Chart<\/figcaption><\/figure>\n

However, the shrinking volatility in BTC\/USD indicates that the downtrend is unlikely to extend further. Besides, $6,700 is key support and if the bulls could not defend this support level, the price may likely test the critical support level of $6,600 and below as the MACD signal lines are moving into the negative side. In other words, the resistance level of $7,100 and above could be visited if there is a rebound.<\/p>\n

Please note:<\/strong> Insidebitcoins.com<\/a> is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Bitcoin (BTC) Price Prediction \u2013 April 21 BTC\/USD is trading below the big $7000, suggesting vulnerabilities to the downside. BTC\/USD Long-term Trend: Bullish (Daily Chart) […]<\/a><\/div>","protected":false},"author":1742,"featured_media":258150,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[1],"tags":[734,5319,7991,7992],"class_list":["post-258149","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-more-crypto-news","tag-bitcoin","tag-btc","tag-btcusd","tag-technical-analysis"],"acf":[],"yoast_head":"\nBitcoin Price Prediction: BTC\/USD Creeps towards $6,900 Following Rejection at $7,000<\/title>\n<meta name=\"description\" content=\"BTC\/USD is trading below the big $7000, suggesting vulnerabilities to the downside.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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