BTC/USD Stabilizes Above the $19,000 Resistance

The Bitcoin price prediction shows that BTC is trading at $19,264 as the coin seems to be preparing for another upward movement.

Bitcoin Prediction Statistics Data:

Bitcoin price now – $19,264
Bitcoin market cap – $371.6 billion
Bitcoin circulating supply – 19.2 million
Bitcoin total supply – 19.2 million
Bitcoin Coinmarketcap ranking – #1

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

Key levels:

Resistance Levels: $21,000, $23,000, $25,000

Support Levels: $17,500, $15,500, $13,500

BTC/USD is likely to cross above the upper boundary of the channel at $19,129.72 as the coin prepares to follow the upward movement. At the time of writing, the king coin is likely to extend toward the resistance level of $20,000 if the bulls put in more effort.

Bitcoin Price Prediction: Bitcoin (BTC) May Hit $20k Resistance

The Bitcoin price is heading toward the upside, any further bullish movement above the channel could locate the potential resistance levels at $21,000, $23,000, and $25,000. Nevertheless, if BTC/USD soars to the upper boundary of the channel, this could be a sign of sustainability and may likely result in a bullish continuation.

However, if the Bitcoin price fails to move up; traders could see a price cut towards the lower boundary of the channel, and a further low could bring the price to the support levels at $17,500, $15,500, and $13,500 respectively. But as it stands, the Bitcoin price is likely to spike as the technical indicator Relative Strength Index (14) hovers within the overbought region.

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

According to the 4-day chart, the Bitcoin price is hovering above the 9-day and 21-day moving averages. However, suppose the bulls push the market above this upper boundary of the channel, traders may expect a retest of the $19,400 resistance level, breaking this level may further push the price towards the resistance level of $20,000 and above as the technical indicator Relative Strength Index (14) remains within the overbought region, which is suggesting a bullish signal.

However, if the bulls failed to push the market above the channel, traders may expect a break below the 9-day moving average, and breaking below this barrier may further bring the price toward the critical support level of $18,500 and below.

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