BTC Awaits Possible Breakout while Tamadoge Remains at the Upside
After touching the low of $20,782, BTC is currently trading at $21,067 as the coin seems to be preparing for another upward movement.
Bitcoin Prediction Statistics Data:
Bitcoin price now – $21,067
Bitcoin market cap – $404billion
Bitcoin circulating supply – 19.1 million
Bitcoin total supply – 19.1 million
Bitcoin Coinmarketcap ranking – #1
BTC/USD Long-term Trend: Ranging (Daily Chart)
Resistance Levels: $28,000, $30,000, $32,000
Support Levels: $15,000, $13,000, $11,000
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BTC/USD is trading below the 9-day and 21-day moving averages at $21,067 as the coin prepares to establish a bullish movement. At the time of writing, the first digital coin is likely to extend towards the resistance level of $22,000 if the bulls put more pressure on the market.
BTC Ready for A Cross Above $21k as Tamadoge Appears Bullish
The Bitcoin price is heading towards the upside, trying to create a bullish movement. Any further bullish movement above the 9-day and 21-day moving averages could locate the potential resistance levels at $28,000, $30,000, and $31,000. Nevertheless, if BTC/USD soars and crosses the upper boundary of the channel, this could be a sign of sustainability and may result in a bullish continuation.
However, if the Bitcoin price fails to move up; traders may see another price cut towards the lower boundary of the channel; a further low could bring the price to the support levels at $15,000, $13,000, and $11,000 respectively. But as it stands, the Bitcoin price is likely to rise as the technical indicator Relative Strength Index (14) moves to cross above the 35-level.
BTC/USD Medium-term Trend: Ranging (4H Chart)
According to the 4-hour chart, the market is following a sideways movement below the 9-day and 21-day moving averages as the bulls are coming back into the market to push the king coin to the upside. If not, the support level of $19,500 and below may come into play.
However, if the bulls push the market above the moving averages, traders may expect a retest of the $22,000 resistance level, and breaking this level may further push the price towards the resistance level of $23,000 and above as the technical indicator Relative Strength Index (14) prepares to leave the oversold region.
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