Bitcoin (BTC) Trades Below $24,000 Support as Tamadoge Goes Bullish
Bitcoin (BTC) trades below $24,000 seeing a 0.88% decline over the past few hours as the coin fails to trade above $25,000.
Bitcoin Prediction Statistics Data:
- Bitcoin price now – $23,884
- Bitcoin market cap – $456.8 billion
- Bitcoin circulating supply – 19.1 million
- Bitcoin total supply – 19.1 million
- Bitcoin Coinmarketcap ranking – #1
BTC/USD Long-term Trend: Bullish (Daily Chart)
Key levels:
Resistance Levels: $28,000, $30,000, $32,000
Support Levels: $21,000, $19,000, $17,000
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BTC/USD loses its momentum after touching key resistance above $24,253. As of writing, the king coin is down 0.88% on the day at $23,884 hovering below the 9-day moving average. Meanwhile, Bitcoin (BTC) may struggle to close above $24,000 and if it does, it should be free to rise well above $25,000 if it moves in the next positive direction.
Bitcoin (BTC) May Go Up as Tamadoge (TAMA)
After a slightly positive move above the resistance level of $24,200 during the European session today, Bitcoin (BTC) is likely to reverse from the current market value and cross above the 9-day moving average. Over the past few days, the king coin has been struggling to break above the upper boundary of the channel. In today’s session, the coin attempted to push higher but the sellers step in and start pushing the coin lower to touch the daily low of $23,668.
Nevertheless, if the king coin moves lower, the $23,000 may serve as the nearest support level, which may likely make room for Bitcoin (BTC) to fall further to hit the supports at $21,000, $19,000, and $17,000. The Relative Strength Index (14) nosedives below 60-level indicate a downward movement. On the contrary, if the coin breaks above the 9-day MA and crosses the channel, it could hit the resistance levels of $28,000, $30,000, and $32,000.
BTC/USD Medium-term Trend: Ranging (4H Chart)
Looking at the 4-Hour chart, the BTC price keeps hovering around $23,861 and could take time to cross above the 9-day and 21-day moving averages. However, if the bulls gather enough strength, the upward movement may be able to near the resistance levels of $25,000 and above.
On the downside, immediate support could be located around the $23,500 level while the critical support is at $23,000 and below. Therefore, the Bitcoin price may likely fall towards the lower boundary of the channel if the bears put more pressure on the market, more so, the Relative Strength Index (14) is below the 50-level, suggesting a bearish movement.
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