The Bitcoin price prediction reveals that BTC continues to head to the downside as its price moves below $19,000 to touch the low of $18,131.
Bitcoin Prediction Statistics Data:
- Bitcoin price now – $18,440
- Bitcoin market cap – $360.5 billion
- Bitcoin circulating supply – 19.1 million
- Bitcoin total supply – 19.1 million
- Bitcoin Coinmarketcap ranking – #1
BTC/USD Long-term Trend: Bearish (Daily Chart)
Resistance Levels: $22,000, $24,000, $26,000
Support Levels: $16,000, $14,000, $12,000
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BTC/USD is trading around $18,440 below the 9-day and 21-day moving averages as the king coin heads to the downside. At the time of writing, Bitcoin (BTC) has remained in a bearish zone, and it is likely to touch the support of $18,000. However, the Bitcoin price is now plunging below the former resistance level of $19,174 which may cause many investors to take profits off the table.
Bitcoin Price Prediction: Would Bitcoin (BTC) Break More Downs?
The Bitcoin price is currently changing hands at $18,440, however, where BTC trends next may partly depend on whether or not buyers can close today’s candle above the $19,000 level. Should in case this comes to play, the bulls may propel prices higher, and then traders may expect the king coin to rise above the $20,000 resistance, which could later move towards the potential resistance levels at $22,000, $24,000, and $26,000.
On the other hand, if the Bitcoin price failed to close above the $19,000 level; the price could drop toward the lower boundary of the channel. A low drive could send the price to $16,000, $14,000, and $12,000 supports. Meanwhile, the technical indicator Relative Strength Index (14) crosses below the 40-level as the signal line shows a continuous bearish movement.
BTC/USD Medium-term Trend: Bearish (4H Chart)
Looking at the 4-hour chart, following the rejection of $18,974, BTC/USD is trading below the 9-day and 21-day moving averages. Looking at it from above, if Bitcoin revisits $19,000 resistance, then the next level of resistance could be $19,500, along with the significantly mentioned ascending trend-line. The potential resistance could be at $20,000 and above.
Meanwhile, as the technical indicator ranges, this might have signaled a temporary end to the bullish trend of Bitcoin for a moment. However, if the coin falls below the lower boundary of the channel, the market price may likely reach the support level of $17,500 and below.
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