BTC/USD Could Turn Attractive Above $27k
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The Bitcoin price prediction reveals that BTC may break out of the current short-term pattern and move toward the $27,500 level.
Bitcoin Prediction Statistics Data:
- Bitcoin price now – $26,925
- Bitcoin market cap – $520 billion
- Bitcoin circulating supply – 19.3 million
- Bitcoin total supply – 19.3 million
- Bitcoin Coinmarketcap ranking – #1
BTC/USD Long-term Trend: Ranging (Daily Chart)
Key levels:
Resistance Levels: $32,000, $34,000, $36,000
Support Levels: $22,000, $20,000, $18,000
BTC/USD is at the moment trading at $26,925 with a 0.13% gain since the beginning of today’s trading. The Bitcoin price may cross above the 9-day moving average. Moreover, for BTC/USD to remain above this barrier, it could make many traders feel that the $26,500 support level could be pretty strong.
Bitcoin Price Prediction: Would BTC Price Break Higher
The Bitcoin price could not drop much cause of today’s trading, but if the first digital coin breaks below the support level of $26,000, it could change the direction of the coin to cross below the lower boundary of the channel. Alternatively, Bitcoin (BTC) may reclaim the previous resistance level of $27,000 to head to the upside. If successful, BTC/USD could aim at the resistance levels of $32,000, $34,000, and $36,000 respectively.
Nevertheless, the technical indicator Relative Strength Index (14) is moving to cross above the 40-level as Bitcoin (BTC) may consolidate around this level. Moreover, this could mean that there may still be a room that could be explored by the bulls if it crosses the 21-day moving average. If the king coin slides to the south, the support levels of $22,000, $20,000, and $18,000 may play out.
BTC/USD Medium-term Trend: Ranging (4H Chart)
On the 4-hour chart, the technical indicator Relative Strength Index (14) is now recovering toward the 50-level, and this may confirm the bullish movement if it crosses above it. Meanwhile, adding to the above, there is a little bit of bullish divergence as the coin crosses above the 9-day moving average to continue the bullish movement.
However, if the Bitcoin price breaks toward the lower boundary of the channel, the market price could reach support at $25,000 and below. Meanwhile, if the current market value rises and crosses above the channel, the Bitcoin price could hit the potential resistance level of $29,000 and above.
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