BTC Stays Above $20,000 Level
The Bitcoin price prediction shows that BTC is trading at $39,723 as the coin seems to be preparing for another upward movement.
Bitcoin Prediction Statistics Data:
Bitcoin price now – $20,511
Bitcoin market cap – $395.1 billion
Bitcoin circulating supply – 19.0 million
Bitcoin total supply – 19.0 million
Bitcoin Coinmarketcap ranking – #1
BTC/USD Long-term Trend: Ranging (Daily Chart)
Key levels:
Resistance Levels: $27,000, $29,000, $31,000
Support Levels: $15,000, $13,000, $11,000
BTC/USD is trading toward the 9-day and 21-day moving averages at $20,511 as the coin prepares to gain additional higher levels. At the time of writing, the first digital coin is likely to extend towards the resistance level of $22,000 if the bulls put more pressure on the market.
Bitcoin Price Prediction: BTC/USD Ready for A Cross Above $21k
At the moment, the Bitcoin price is heading towards the upside, any further bullish movement above the 9-day and 21-day moving averages could locate the potential resistance levels at $27,000, $29,000, and $31,000. Normally, when the new uptrends are coming up, traders may use the moving averages to gauge the strength of the trend. Nevertheless, if BTC/USD soars to 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 lower boundary of the channel, and a further low could bring the price to the support levels at $15,000, $13,000, and $11,000 respectively. But as it stands, the Bitcoin price is likely to rise as the technical indicator Relative Strength Index (14) moves to cross above the 30-level.
BTC/USD Medium-Term Trend: Ranging (4H Chart)
According to the 4-hour chart, the market is following a sideways movement within the 9-day and 21-day moving averages as the bulls are coming back into the market to push the king coin above the upper boundary of the channel. If not, the support level of $18,000 and below may come into play.
However, if the bulls push the market above the channel, traders may expect a retest of the $22,000 resistance level, and breaking this level may further push the price towards the resistance level of $24,000 and above as the technical indicator Relative Strength Index (14) remains above 50-level, suggesting a bullish signal.
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