BTC/USD Trades Above $30,700 Level

The Bitcoin price prediction shows that BTC is trading at $30,476 as the coin seems to be preparing for another upward movement.

Bitcoin Prediction Statistics Data:

Bitcoin price now – $30,476
Bitcoin market cap – $584.1 billion
Bitcoin circulating supply – 19.3 million
Bitcoin total supply – 19.3 million
Bitcoin Coinmarketcap ranking – #1

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

Key levels:

Resistance Levels: $35,000, $37,000, $39,000

Support Levels: $27,000, $25,000, $23,000

BTC/USD is trading above the 9-day and 21-day moving averages at $30,476 as the coin prepares to gain additional higher levels. At the time of writing, the first digital coin is likely to extend toward the resistance level of $31,000 if the bulls put more pressure on the market.

Bitcoin Price Prediction: Bitcoin (BTC) May Cross Above $31,000

The Bitcoin price is heading toward the upside, any further bullish movement above the upper boundary of the channel may locate the potential resistance levels at $35,000, $37,000, and $39,000. Normally, when new uptrends are coming up, traders may use the moving averages to gauge the strength of the trend. Nevertheless, if BTC/USD soars above the upper boundary of the channel, this could be a sign of sustainability and may likely result in a bullish continuation.

Furthermore, if the Bitcoin price fails to move up; traders may see a price cut below the moving averages, and a further low could bring the price to the support levels at $27,000, $25,000, and $23,000 respectively. But as it stands, the Bitcoin price is likely to rise as the technical indicator Relative Strength Index (14) crosses above the overbought region.

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

However, suppose the bulls push the market above the channel. In that case, traders may expect a retest of the $30,700 resistance level, breaking this level may further push the price towards the resistance level of $32,000 and above as the technical indicator Relative Strength Index (14) remains within the overbought region, which is suggesting a bullish signal.

On the contrary, if the king coin slides below the 9-day and 21-day moving averages and heads toward the lower boundary of the channel, it could locate the support level of $29,000 and below.

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