The Bitcoinย (BTC) priceย forecast sees a 0.53 percent decline inย theย previous few hours as the digitalย currency fails at $26,462 and could head lower.
Bitcoinย (BTC) Prediction Statistics Data:
- Bitcoinย (BTC) price now โ $26,265
- Bitcoinย (BTC) marketย capitalization โ $509.7 billion
- Bitcoinย (BTC) circulating supply โ 19.3 million
- Bitcoinย (BTC) total supply โ 19.3 million
- Bitcoinย (BTC) Coinmarketcap ranking โ #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. Inย theย meantime, Bitcoinย (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.
Bitcoinย (BTC) Price Prediction: Can Bitcoinย (BTC) Price Trade Over $27,000?
Reportsย by the daily chart, the Bitcoinย (BTC) price could slide below the lower boundary of the channel if the bears increase the pressure. Inย theย previous few days, the king coin has been struggling to cross over the moving averages. In todayโs session, the Bitcoinย (BTC) price aimedย to push higher, but the sellers stepped into the market to attract the marketย value lower to touch the daily low of $25,950.
Furthermore, if the coin moves lower, the $25,500 may serve as the nearest levelย ofย support, whichย canย 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 couldย be near the resistance level of $27,500 and above.
On the downside, immediate support mayย be located around the $26,000 level while critical support is at $25,500 and below. Thisย isย why, the Bitcoinย (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 positiveย tendency movement.
Alternatives to Bitcoin
The Bitcoinย (BTC) price could face a setback that mayย be a permanent one if the bears return to the market. The king coin isย veryย likely have anย extra bearish run if the marketย 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 Memeย Coin coins. It will be the marketโs 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 cryptoย token isย still in the presale and it has raised almost $12 Million so far.
