The Bitcoin price prediction shows that BTC is trading below the moving averages as the coin touches $19,639 support.
Bitcoin Prediction Statistics Data:
- Bitcoin price now – $19,675
- Bitcoin market cap – $378.1 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)
Resistance Levels: $23,000, $25,000 $27,000
Support Levels: $17,000, $15,000, $13,000
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BTC/USD continues to face a setback that could be a permanent one. The king coin is likely to have an additional bearish run as a price rally may help the coin to head to the south. Currently, Bitcoin (BTC) is trading around the $19,675 level after a free fall from $20,336 during the European.
BTC Stays Below the Moving Averages as TAMA Increases
Looking at the daily chart, the Bitcoin price is currently hovering below the 9-day and 21-day moving averages. Therefore, if the price should slump below the support level of $19,500, the king coin is likely to embark on a downward movement. However, the further bearish movement could locate the supports at $17,000, $15,000, and $13,000, making room for BTC to fall even further.
Moreover, the technical indicator Relative Strength Index (14) is likely to cross below the 40-level as the trading volume could be in support of the bears. Nevertheless, if bulls decide to move the price above the moving averages, BTC/USD may head towards the resistance levels of $23,000, $25,000, and $27,000.
BTC/USD Medium-term Trend: Ranging (4H Chart)
On the 4-Hour chart, the Bitcoin price remains below the 9-day and 21-day moving averages and the immediate support is likely to come at the $19,000 level. The price may likely fall below this level if the bears continue to dominate the market.
However, a further bearish movement could hit the critical support at the $18,500 level and below while the resistance is located above the 21-day moving average at $21,500 and above. Meanwhile, the Bitcoin price is currently moving on the negative side as the technical indicator Relative Strength Index (14) could cross into the oversold region.
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