Bitcoin Price Prediction: Is $26,000 the Next Support Level?

Bitcoin Price Prediction: Is $26,000 the Next Support Level?


Learn about the current Bitcoin price prediction, its market cap, circulating and total supply, and key support and resistance levels as BTC seems to be preparing for a potential move below $26,000.

The Bitcoin (BTC) price forecast is as of now moving bearishly and appears to be preparing for the following move below the level of support of $26,000.

Bitcoin (BTC) Prediction Statistics Data:

  • Bitcoin (BTC) price now – $26,401
  • Bitcoin (BTC) market capitalization – $509.1 billion
  • Bitcoin (BTC) circulating supply – 19.3 million
  • Bitcoin (BTC) total supply – 19.3 million
  • Bitcoin (BTC) Coinmarketcap ranking – #1

BTC/USD Longstanding Trend: Ranging (Daily Chart)

Key levels:

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

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

BTC/USD is seen hovering at $26,401, with the present consolidation pattern, the king coin remains below the 9-day and 21-day moving averages. Nevertheless Bitcoin (BTC) begins the day off intending to tendency higher but couldn’t. In the meantime, any positive  tendency cross over the 9-day and 21-day moving averages could hit the nearest resistance level of $27,500. In the meantime, any bearish cross below the lower boundary of the channel could locate the 1st point of support at $26,000. Beneath this, other supports may be below found at $21,000, $19,000, and $17,000.

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Bitcoin (BTC) Price Prediction: Bitcoin (BTC) May Face the Downside

The Bitcoin (BTC) price is sliding toward the lower boundary of the channel as the technical indicator Relative Strength Index (14) moves to cross below the 40-level. On the following positive move, Bitcoin could break to the upside as the candle is still is still to close. In the meantime, if the bulls push the king coin to the north, the  capacity resistance levels may be found at $32,000, $34,000, and $36,000.

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

On the 4-hour chart, may must cross over the 9-day and 21-day moving averages and move toward the upper boundary of the channel to mitigate the short-term bearish pressure so that it can reclaim the $27,000 level. Still, this psychological barrier could be closely followed by the resistance level of $25,500 and above.

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On the contrary, if the king coin heads to the downside, the nearest support may come at $26,000, and a sustainable bearish movement could increase the downside pressure and attract the price toward $25,500 and below. Seeing as the technical indicator Relative Strength Index (14) on the 4-hour chart, the coin is very likely move sideways as the signal line moves in the same direction.

Bitcoin (BTC) Alternatives

The Bitcoin (BTC) price could begin another decline if bulls failed to push the coin to the upside. At the opening of today’s trading; the king coin could not cross over the 9-day and 21-day moving averages, but headed toward the lower boundary of the channel. In the meantime, any bearish movement to the south may attract the coin down to the bearish zone. Nonetheless, the platform provides an AI-driven Meme Coin generation experience for users, adapting to the ever-changing cryptocurrency world. This employs advanced Artificial Intelligence (AI) technology for creating relevant memes according to user-provided text prompts. In the meantime, the key aspects include the AI-powered Meme Coin generator, text-based prompts, and $ Artificial Intelligence (AI) crypto tokens for purchasing credits. Furthermore, the crypto token is as of now at the presale stage raising almost $12 million.

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Source

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