Bitcoin Price Prediction for Today, November 4: BTC/USD Swings Above $21,000

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The Bitcoin price prediction restarts the uptrend after crossing above the critical barrier of $21,000 to touch the daily high of $21,298.

Bitcoin Prediction Statistics Data:

Bitcoin price now – $21,265
Bitcoin market cap – $399.8 billion
Bitcoin circulating supply – 19.1 million
Bitcoin total supply – 19.1 million
Bitcoin Coinmarketcap ranking – #1

BTC/USD Long-term Trend: Ranging (Daily Chart)

Key levels:

Resistance Levels: $24,000, $25,000, $26,000

Support Levels: $18,500, $17,500, $16,500

BTC/USD looks green today as the price hovers above the resistance level of $21,000 from the low of $20,181.61. However, a daily close above the $22,000 level can continue to increase the Bitcoin price to $23,000. At the moment, all eyes focus on the next hurdle above the upper boundary of the channel as a consistent price increase may encourage more buyers to join the market if bulls increase their positions.

Bitcoin Price Prediction: BTC May Jump to the Upside

At the time of writing, the Bitcoin price is moving slightly at its current price of $21,265 with two straight bullish days. According to the daily chart, this marks a meaningful climb from the opening price of $20,208 level; therefore, it is important to note that the current price movement may break above the upper boundary of the channel.

Nevertheless, if the market decides to fall below the 9-day and 21-day moving averages, the Bitcoin price could go towards the lower boundary of the channel, and before getting to this barrier, traders could have hit the support levels at $18,500, $17,500, and $16,500 respectively. All the same, any further bullish movement may push the coin to the resistance level of $24,000, $25,000, and $26,000 as the Relative Strength Index (14) moves to cross above 70-level, suggesting more bullish signals.

BTC/USD Medium-term Trend: Ranging (4H Chart)

According to the 4-hour chart, the Bitcoin price is hovering above the 9-day and 21-day moving averages as the intraday trading looks bullish facing the upper boundary of the channel to hit the resistance level of $22,000 and above.

BTCUSD – 4-Hour Chart

However, if the buyers failed to keep pushing the market upward, traders can expect a retreat below the support level of $20,000, and breaking this level may further bring the price below the lower boundary of the channel to reach the support level of $19,700 and below. Meanwhile, the Relative Strength Index (14) is likely to cross below the 60-level, suggesting bearish signals.

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