BTC/USD Could Obtain Strong Support Below $19k

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The dai­ly chart reveals that the Bit­coin (BTC) price may extend the bear­ish move­ment to the areas below the sup­port lev­el of $19,000.

Bitcoin Prediction Statistics Data:

  • Bit­coin price now – $19,335
  • Bit­coin mar­ket cap – $370.6 billion
  • Bit­coin cir­cu­lat­ing sup­ply – 19.1 million
  • Bit­coin total sup­ply – 19.1 million
  • Bit­coin Coin­mar­ket­cap rank­ing – #1

BTC/USD Long-term Trend: Ranging (Daily Chart)

Key lev­els:

Resis­tance Lev­els: $23,000, $25,000, $27,000

Sup­port Lev­els: $17,000, $15,000, $13,000

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BTC/USD falls below $19,500 once again as the first dig­i­tal asset embarks on sup­port after the coin failed to hold above the resis­tance lev­el of $20,000. Accord­ing to the dai­ly chart, the bear­ish con­trol is seen across the mar­ket as the sell­ers are mak­ing effort to increase the bear­ish movement.

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Bitcoin Price Prediction: BTC  Could Touch $19k Support

The Bit­coin price is hov­er­ing at $19,335 with an intra­day loss of 0.46%. Look­ing at the dai­ly chart, the pre­vail­ing trend is bear­ish with expand­ing volatil­i­ty as the first dig­i­tal asset is like­ly to con­sol­i­date in a bear­ish flag pat­tern. Mean­while, a break­down below the mov­ing aver­ages is sup­posed to con­tin­ue in the direc­tion of the pre­vi­ous trend. In this case, BTC/USD is expect­ed to drop and stay below to hit the crit­i­cal sup­port lev­els at $17,000, $15,000, and $13,000.

How­ev­er, should the Bit­coin price return above the mov­ing aver­ages; the price could rise to the near­est resis­tance at $20,000. A fur­ther bull­ish dri­ve could push the price to $23,000, $25,000, and $27,000 resis­tance lev­els. The tech­ni­cal indi­ca­tor Rel­a­tive Strength Index (14) is reveal­ing a side­ways move­ment, which shows that the mar­ket may con­tin­ue to range.

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

At the open­ing of the mar­ket today, the Bit­coin price faces up to touch the resis­tance lev­el of $19,401 but may like­ly drop towards the chan­nel, bring­ing its price to trade around $19,338. Mean­while, should the price stay below the 9‑day and 21-day mov­ing aver­ages, it is like­ly for the coin to head towards the low­er bound­ary of the chan­nel to reach the sup­port lev­el at $18,500 and below.

BTCUSD – 4‑Hour Chart

More­over, if the bulls push the coin above the 9‑day and 21-day mov­ing aver­ages, the Bit­coin price could revis­it the resis­tance lev­el of $20,500 and above. Present­ly, the mar­ket may begin to move side­ways or expe­ri­ence slight uptrends as the Rel­a­tive Strength Index (14) indi­ca­tor moves below 50-level.

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