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)
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.
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.
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.