The Bitcoin price prediction shows that BTC rises in the early hours of today, but got rejected as the market touches the low of $18,666.
BTC/USD Long-term Trend: Ranging (Daily Chart)
Resistance Levels: $22,000, $24,000, $26,000
Support Levels: $17,000, $15,000, $13,000
BTC/USD may begin to follow the bearish movement if the bears force the king coin to bow down to fresh losses. At the time of writing, the Bitcoin (BTC) is changing hands at $19,068 after adjusting from the resistance level of $19,949 which is an intraday high. Moreover, the Bitcoin price may be vulnerable to losses if the price crosses below the lower boundary of the channel.
The Bitcoin price from a technical angle reveals that the market price may follow the downtrend or continue to move sideways because the bullish movement is not visible now. However, the technical indicator Relative Strength Index (14) may confirm the bearish movement if the signal line drops below the 40-level.
Moreover, bulls are currently banking on the lower boundary of the channel to ensure that despite a reversal, the Bitcoin price stays above this barrier. Any bearish movement below this bearer could touch the nearest support of $18,000 and may cause the coin to reach the critical supports at $17,000, $15,000, and $13,000. Following the upward movement, if the coin crosses above the 9-day and 21-day moving averages; it could hit the potential resistance levels at $22,000, $24,000, and $26,000 respectively.
BTC/USD Medium-term Trend: Ranging (4H Chart)
As the 4-hour chart reveals, the Bitcoin price is seen crossing below the 9-day and 21-day moving averages, and the bears are likely to come back into the market while the bulls are trying to defend the $19,000 support. If not, the support level of $17,500 and below may come into play if the coin focuses on the downward movement.
Moreover, buyers may need to regroup and hold the support of $19,000, once this is done, traders may expect a movement towards the upper boundary of the channel, and this could push the king coin to the resistance levels of $20,000 and above. Meanwhile, the technical indicator Relative Strength Index (14) is seen facing down, suggesting a continuous bearish movement.
Tamadoge, an ERC-20 token, will also have its initial DEX offering (IDO) on Uniswap. TAMA is set to list at $0.03. As the Tamadoge presale sold out earlier than expected, the team is reportedly moving forward with all TAMA crypto exchange listings to take place in the coming days.