The Bitcoin price prediction reveals that BTC may break out of the current short-term pattern and move towards the $22,000 level.
Bitcoin Prediction Statistics Data:
- Bitcoin price now – $21,169
- Bitcoin market cap – $404.0 billion
- Bitcoin circulating supply – 19.0 million
- Bitcoin total supply – 19.0 million
- Bitcoin Coinmarketcap ranking – #1
BTC/USD Long-term Trend: Bearish (Daily Chart)
Resistance Levels: $26,000, $28,000, $30,000
Support Levels: $15,000, $13,000, $11,000
BTC/USD is at the moment trading at $21,169 with a 3.02% gain since the beginning of today’s trading. The Bitcoin price could struggle to stay above the 9-day moving average. More so, for BTC/USD to remain above this barrier, it could make many traders feel that the $20,000 support level could be pretty strong.
Bitcoin Price Prediction: Would BTC Price Break Higher
The Bitcoin price could not drop much the cause of today’s trading, but if the first digital coin breaks below the support level of $19,000, it could change the direction of the coin to face the lower boundary of the channel. Alternatively, Bitcoin (BTC) may reclaim the previous resistance level of $22,000 to head to the upside. If successful, BTC/USD could aim at the resistance levels of $26,000, $28,000, and $30,000 respectively.
Nevertheless, the technical indicator Relative Strength Index (14) is still below the 35-level as the coin may consolidate around this level. Moreover, this could mean that there may still be a room that could be explored by the bears if it crosses below 30-level. Therefore, the support levels of $15,000, $13,000, and $11,000 may play out.
BTC/USD Medium-Term Trend: Ranging (4H Chart)
From a technical point of view, on the 4-hour chart, the technical indicator Relative Strength Index (14) is now hovering above the 50-level, and this may confirm the bullish movement if it moves toward the 60-level. Meanwhile, adding to the above, there is a little bit of bullish divergence on the RSI (14) as the coin remains above the 9-day moving average to continue the bullish movement.
However, if the Bitcoin price breaks below the moving averages, the market price may reach support at $18,000 and below. Meanwhile, if the current market value rises and crosses above the upper boundary of the channel, it may reach the resistance level at $25,000 and above.
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