{"id":277633,"date":"2020-11-17T18:38:10","date_gmt":"2020-11-17T23:38:10","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=277633"},"modified":"2020-11-17T18:38:10","modified_gmt":"2020-11-17T23:38:10","slug":"btc-usd-long-term-trend-bullish-daily-chart-62","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/btc-usd-long-term-trend-bullish-daily-chart-62","title":{"rendered":"Bitcoin Price Prediction: BTC\/USD Trades Above $17,800 Level; What Next?"},"content":{"rendered":"

Bitcoin (BTC) Price Prediction \u2013 November 17<\/strong><\/p>\n

BTC\/USD is up by more than 5.19% as the price struck a sudden and bullish price spike above the $17,800 resistance level.<\/p>\n

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

Key levels:<\/p>\n

Resistance Levels: $18,600, $18,800, $19,000<\/p>\n

Support Levels: $16,000, $15,800, $15,600<\/p>\n

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

The daily chart reveals that BTC\/USD<\/a> is flexing muscles above the critical resistance level. The coin moves above $17,700 to touch the daily high of $17,880 but now trading at $17,595 at the time of writing. The first digital asset is moving with strong bullish momentum above the 9-day and 21-day moving averages after a sustainable break above an important technical level.<\/p>\n

What to Expect from Bitcoin (BTC)<\/h4>\n

As the Bitcoin breaks above the upper boundary of the channel, the return above $17,800 could set the framework for gains towards $18,200. Meanwhile, the technical analysis shows that the bulls are ready for another action especially when the up-trending RSI (14) is considered. Any further bullish movement above the daily high could pave the way for gains above $18,500. Other resistance levels may be located at $18,600, $18,800, and 19,000.<\/p>\n

On the other hand, if the price falls back below the $17,000 level, breaking below the moving averages may cause the bears to wrestle out the control over the situation very quickly. This may likely serve as a major blow for the market sentiments as traders could interpret it as a sign of underlying weakness. The next important support may come at $16,500 while other supports may be located at $16,000, $15,800, and $15,600.<\/p>\n

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

Looking at the 4-hour chart, the price of Bitcoin (BTC) is currently trading around $17,698 above the 9-day and 21-day moving averages. However, the 4-hour chart shows that the bullish supply is still very strong in the market while the bears are also trying to bring the price down.<\/p>\n

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

Meanwhile, if the buyers could put more pressure, they can further push the price above the $18,000 resistance level. Therefore, breaking the mentioned resistance could allow the bulls to hit another resistance at $18,300 and above. In other words, the RSI (14) is currently moving within the overbought region, leaving this zone could push the market price to the support level of $17,200 and below.<\/p>\n","protected":false},"excerpt":{"rendered":"

Bitcoin (BTC) Price Prediction \u2013 November 17 BTC\/USD is up by more than 5.19% as the price struck a sudden and bullish price spike above […]<\/a><\/div>","protected":false},"author":1742,"featured_media":277635,"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-277633","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 Trades Above $17,800 Level; What Next?<\/title>\n<meta name=\"description\" content=\"BTC\/USD is up by more than 5.19% as the price struck a sudden and bullish price spike above the $17,800 resistance level.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/277633\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin Price Prediction: BTC\/USD Trades Above $17,800 Level; 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