Bitcoin Price Drops 0.53%, Can It Reach $27,000? Here Are The Stats

Bitcoin Price Drops 0.53%, Can It Reach $27,000? Here Are The Stats


Bitcoin price prediction sees a 0.53% decline as the cryptocurrency faces resistance at $26,462 and struggles to maintain momentum, potentially sliding below the lower boundary of the channel.

The Bitcoin (BTC) price forecast sees a 0.53 percent decline in the previous few hours as the digital currency fails at $26,462 and could head lower.

Bitcoin (BTC) Prediction Statistics Data:

  • Bitcoin (BTC) price now – $26,265
  • Bitcoin (BTC) market capitalization – $509.7 billion
  • Bitcoin (BTC) circulating supply – 19.3 million
  • Bitcoin (BTC) total supply – 19.3 million
  • Bitcoin (BTC) Coinmarketcap ranking – #1

BTC/USD Longstanding Trend: Bearish (Daily Chart)

Key levels:

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

Support Levels: $21,000, $19,000, $17,000

BTC/USD loses its momentum after touching key resistance over $26,462. As of writing, the king coin is down 0.53 percent on the day at $23,265 below the 9-day and 21-day moving averages. In the meantime, Bitcoin (BTC) may struggle to close over $26,500, and if it does, it should be free to boost well over $27,000 if it moves toward the upper boundary of the channel.

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Bitcoin (BTC) Price Prediction: Can Bitcoin (BTC) Price Trade Over $27,000?

Reports by the daily chart, the Bitcoin (BTC) price could slide below the lower boundary of the channel if the bears increase the pressure. In the previous few days, the king coin has been struggling to cross over the moving averages. In today’s session, the Bitcoin (BTC) price aimed to push higher, but the sellers stepped into the market to attract the market value lower to touch the daily low of $25,950.

Furthermore, if the coin moves lower, the $25,500 may serve as the nearest level of support, which  can potentially likely make room for the coin to fall further to hit the supports at $21,000, $19,000, and $17,000. The Relative Strength Index (14) remains below the 40- level, which could follow the downward movement. On the contrary, BTC/USD may likely face the upper boundary of the channel to hit the resistance levels of $32,000, $34,000, and $36,000.

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BTC/USD Medium-term Trend: Bearish (4H Chart)

On the 4-Hour chart, the price hovers around $26,369 and may likely cross over the 9-day and 21-day moving averages. Nonetheless, if the bulls gather enough strength, the upward movement could be near the resistance level of $27,500 and above.

On the downside, immediate support may be located around the $26,000 level while critical support is at $25,500 and below. This is why, the Bitcoin (BTC) price may likely cross over the moving averages if the bulls put more pressure on the market, Furthermore, the Relative Strength Index (14) may cross over the 40-level, suggesting a positive  tendency movement.

Alternatives to Bitcoin

The Bitcoin (BTC) price could face a setback that may be a permanent one if the bears return to the market. The king coin is very likely have an extra bearish run if the market value heads to the south. Nonetheless, it is likely that the red line of the 9-day moving average remains below the green line of the 21-day moving average to keep the coin at the downside. Nonetheless, is poised to take over as the king of Meme Coin coins. It will be the market’s 1st AI-driven meme-generation site. The technology will have a vast knowledge of the cryptocurrency industry so will be able to aid users with templates and other helpful tools to make the best memes they are capable of. The crypto token is still in the presale and it has raised almost $12 Million so far.

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Source

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