BTC Bears May Slide Below $29,000 Support

Free Bitcoins: FreeBitcoin | BonusBitcoin

Coins Kaufen: Bitcoin.deAnycoinDirektCoinbaseCoinMama (mit Kreditkarte)Paxfull

Handelsplätze / Börsen: Bitcoin.de | KuCoinBinanceBitMexBitpandaeToro

Lending / Zinsen erhalten: Celsius NetworkCoinlend (Bot)

Cloud Mining: HashflareGenesis MiningIQ Mining


The Bitcoin price prediction shows that BTC is likely to cross below the moving averages as the coin touches $29,402 support.

Bitcoin Prediction Statistics Data:

  • Bitcoin price now – $29,525
  • Bitcoin market cap – $564.8 billion
  • Bitcoin circulating supply – 19.0 million
  • Bitcoin total supply – 19.0 million
  • Bitcoin Coinmarketcap ranking – #1

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

Key levels:

Resistance Levels: $36,000, $38,000 $40,000

Support Levels: $24,000, $22,000, $20,000

BTC/USD may face a setback that could drag the coin below the 9-day and 21-day moving averages, and the king coin is likely to have an additional bearish run. Currently, Bitcoin (BTC) is trading around the $29,525 level after a free fall from the daily high of $30,674 during the European.

Bitcoin Price Prediction: Bitcoin (BTC) Heads to the Downside

The Bitcoin price is currently nose-diving below the moving averages. If the price should slump below the support level of $29,000, it is likely to face a downward trend. Moreover, the further bearish movement could locate the supports at $24,000, $22,000, and $20,000, making room for BTC to fall even further.

In the meantime, the technical indicator Relative Strength Index (14) may cross below 40-level as the trading volume could be in support of the bears. On the contrary, if bulls decide to move the price back above the 9-day and 21-day moving averages, BTC/USD may move towards the upper boundary of the channel to locate the resistance levels at $36,000, $38,000, and $40,000.

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

On the 4-Hour chart, the Bitcoin price remains below the 9-day and 21-day moving averages and the immediate support is likely to come at the $29,500 level. The price may likely fall below this level if the bears continue to dominate the market.

BTCUSD – 4 Hour Chart

However, a further bearish movement could hit the critical support at the $28,500 level and below, while the resistance is located above the moving averages at the resistance level of $31,000 and above. Meanwhile, the Bitcoin price is currently moving on the positive side as the technical indicator Relative Strength Index (14) is likely to cross above 40-level.

eToro – Our Recommended Bitcoin Platform

eToro exchange
  • Regulated by the FCA, ASIC and CySEC
  • Buy Bitcoin with Bank transfer, Credit card, Neteller, Paypal, Skrill
  • Free Demo Account, Social Trading Community – 20 Million Users
  • Free Bitcoin Wallet – Unlosable Private Key
  • Copytrade Winning Bitcoin Traders – 83.7% Average Yearly Profit
eToro exchange

68% of retail investor accounts lose money when trading CFDs with this provider.

Read more:



[ad_2]

By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

Close