BTC Spikes Above $20,000, TAMA is rated a BUY

The Bitcoin price prediction shoots above $20,000 as bulls are ready to blow hot doing a little to flip the market sentiment at this stage.

Bitcoin Prediction Statistics Data:

Bitcoin price now – $20,333
Bitcoin market cap – $363.5 billion
Bitcoin circulating supply – 19.1 billion
Bitcoin total supply – 19.1 billion
Bitcoin Coinmarketcap ranking – #1

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

Key levels:

Resistance Levels: $24,000, $26,000, $28,000

Support Levels: $17,000, $15,000, $13,000

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BTC/USD is beginning to follow the bullish movement, and it is likely to start a new trend if the 9-day moving average can make a cross above the 21-day moving average. At the time of writing, the Bitcoin price is hovering above the moving averages at $20,333 and it is likely to head towards the upper boundary of the channel in the next positive direction.

BTC Price Ready to Hit $21k, TAMA is rated a BUY

The Bitcoin price is retracing above the 9-day and 21-day moving averages as the market price prepares to cross to a higher level. In the meantime, any further bullish movement may increase the price towards the upper boundary of the channel. Meanwhile, another resistance may come at $22,000 before reaching the potential resistance of $24,000, $26,000, and $28,000 levels.

However, if the current level of $20,333 failed to hold, it may reverse and face the support level of $19,000 as a further increase in the bears’ pressure may bring down the price below the lower boundary of the channel, and this could cause the king coin to hit the supports at $17,000, $15,000, and $13,000. In the meantime, the technical indicator Relative Strength Index (14) moves above the 50-level to increase the bullish movement.

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

The Bitcoin price is hovering above the 9-day and 21-day moving averages at a price value of $20,170. With the look of things, the bulls may keep the Bitcoin price above the moving averages but any bearish cross below this barrier may bring the coin towards the support level of $19,000 and below.

Moreover, if the Bitcoin price finds a decent resistance level at $21,000 level, the first digital asset may continue the bullish movement above the upper boundary of the channel which may likely hit the resistance level of $22,000 and above. However, the technical indicator Relative Strength Index (14) moves into the overbought region, suggesting additional bullish signals in the market.

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