The Bitcoin (BTC) price sees a 0.46% decline after trading near the $19,700 resistance level, the king coin heads lower.
Bitcoin Prediction Statistics Data:
- Bitcoin price now – $19,323
- Bitcoin market cap – $369.3 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: $22,000, $24,000, $26,000
Support Levels: $17,000, $15,000, $13,000
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BTC/USD loses its momentum after trading near the resistance level of $19,700. As of writing, the king coin is down 0.46% on the day at $19,323 within the 9-day and 21-day moving averages. Meanwhile, the market price may struggle to close above $19,000 and if it does, it should be free to rise well above $20,000 if it moves in the next positive direction.
Bitcoin Price Prediction: BTC May Move Sideways
According to the daily chart, after a slightly positive move above $19,600, the Bitcoin price slides below the 9-day moving average to touch the daily low of $18,845. Watching its movement for the past few days, the king coin has been trading around the 9-day and 21-day moving averages. However, in today’s session, BTC/USD attempted to push higher, but the sellers step in and begin to bring it lower.
Nevertheless, if the coin moves lower, the $18,500 may serve as the nearest support level, which may likely make room for the coin to fall further to hit the support levels at $17,000, $15,000, and $13,000. The Relative Strength Index (14) remains below the 50-level indicating a sideways movement. On the contrary, the king coin may likely see resistance levels of $22,000, $24,000, and $26,000 if it finds its way above the 21-day moving average.
BTC/USD Medium-term Trend: Bearish (4H Chart)
On the 4-Hour chart, the BTC price hovers around $19,459 as it crosses above the 9-day and 21-day moving averages. More so, if the bulls gather enough strength, the upward movement may be able to near the resistance level of $20,500 and above.
On the downside, immediate support could be located around the $19,500 level while the critical support is at $18,500 and below. Therefore, the Bitcoin price may likely fall towards the lower boundary of the channel if the bears put more pressure on the market, More so, the Relative Strength Index (14) moves above the 50-level, suggesting a bullish movement.