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BTC heading towards $24,000 - India Blogger

Bitcoin price predictions suggest that BTC may break out of the current short-term pattern and move towards the $25,000 level.

Bitcoin Prediction Statistics Data:

  • Bitcoin price now – $23,909
  • Bitcoin Market Cap – $456.1 Billion
  • Bitcoin circulating supply – 19.1 million
  • Total supply of bitcoin – 19.1 million
  • Bitcoin Coinmarketcap Ranking – #1

BTC/USD Long Term Trend: Bearish (Daily Chart)

main level:

Resistance Levels: $32,000, $34,000, $36,000

Support Levels: $18,000, $16,000, $14,000

BTC/USD is currently trading at $23,909 with a gain of 1.10%. Looking at the daily chart, bitcoin price may struggle to stay above the upper boundary of the channel. Moreover, for BTC/USD to stay above this resistance, it could make many traders feel that the $23,000 support level could be too strong.

Bitcoin Price Prediction: Will BTC Price Go Higher?

Bitcoin price may not leave much reason to trade today, but if the first digital coin breaks below the $23,000 support level, it could turn the coin to face the lower boundary of the channel. Alternatively, Bitcoin (BTC) could again move upwards from the previous resistance at $24,000. If successful, BTC/USD could target the $32,000, $34,000, and $36,000 resistance levels, respectively.

Nevertheless, the technical indicator Relative Strength Index (14) is moving around the 60-level as the coin may consolidate around this level. Also, it could mean that there may still be a room that can be explored by bears if it goes below this level. Therefore, the $18,000, $16,000, and $14,000 support levels are likely to move.

BTC/USD Medium Term Trend: Ranging (4H Chart)

On the 4-hours chart, the technical indicator Relative Strength Index (14) is now recovering towards the 60-level, and it could confirm bullish momentum if it crosses above it. Meanwhile, adding to the above, there is a slight bullish divergence on the RSI (14) as the coin prepares to cross above the 9-day and 21-day moving averages to continue the bullish momentum.

BTCUSD – 4-Hour Chart

However, if bitcoin price moves towards the lower boundary of the channel, the market cap could reach the $22,000 support level and below. At the same time, if the current market price rises and crosses the moving averages, it is likely to reach resistance at $26,000 and above.

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