Sunday, March 26, 2023
HomeBlockchainBTC/USD Sticks in a Tight Range Below $17,000

BTC/USD Sticks in a Tight Range Below $17,000

Join Our Telegram channel to stay up to date on breaking news coverage

The Bitcoin price prediction shows that BTC is still in a tight range as the market sentiment declines from optimistic to bearish.

Bitcoin Prediction Statistics Data:

  • Bitcoin price now – $16,803
  • Bitcoin market cap – $325 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: $20,000, $22,000 $24,000

Support Levels: $14,000, $12,000, $10,000

BTC/USD is likely to face a setback as the king coin moves to cross below the 9-day and 21-day moving averages. The Bitcoin price is likely to have a bearish run in the short term as the technical indicators confirmed. Currently, Bitcoin (BTC) is trading around the $16,803 level after a free fall from $16,890 during the European session today.

Bitcoin Price Prediction: Bitcoin (BTC) May Head to the Downside

Looking at the daily chart, the Bitcoin price is moving sideways as the sellers brace for a possible impact within the market. However, if the price slumps below the support level of $16,000, the king coin is likely to gain more downtrends, any further bearish movement could locate the supports at $14,000, $12,000, and $10,000, which could cause the Bitcoin (BTC) to fall even further.

On that note, the technical indicator Relative Strength Index (14) is moving below the 50-level while the trading volume could be in support of the bears. However, if the bulls decide to push the price above the 9-day moving average, BTC/USD may likely head toward the upper boundary of the channel to locate the resistance levels at $20,000, $22,000, and $24,000 respectively.

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

On the 4-Hour chart, the Bitcoin price keeps moving within the 9-day and 21-day moving averages, and the immediate support lies at the $16,500 level. However, the price may cross below the lower boundary of the channel if the bears stepped back into the market.

BTCUSD – 4-Hour Chart

Nonetheless, any further bearish movement could test the critical support at the $16,300 level and below, while the resistance could be located above the 21-day moving average at the resistance level of $17,500 and above. Meanwhile, the Bitcoin price is currently moving sideways as the technical indicator Relative Strength Index (14) remains below the 50-level.

On that note, those who invest in Impact Token (IMPT) will be able to claim them from December 12, 2022. In order to do this, they will connect the wallets they used to buy the tokens initially, and the token will be dropped into their wallets. Also Uniswap, LBank, and Changelly Pro will list IMPT for trading, once the presale has been concluded. This environmentally friendly project is gaining traction and close to $17 million has been raised in the current IMPT presale.

However, Dash 2 Trade aims to guide all trades to speculate more proficiently. This is because effective risk control parameters are necessary for building robust strategies for initiating winning trades. There is a D2T presale ongoing and time is running out. The presale dashboard launch is coming soon since the product dev is ahead of the schedule. So far, the presale has raised almost $9.5 million.


Dash 2 Trade – High Potential Presale

Dash 2 Trade
  • Active Presale Live Now –
  • Native Token of Crypto Signals Ecosystem
  • KYC Verified & Audited

Dash 2 Trade

Join Our Telegram channel to stay up to date on breaking news coverage



Please enter your comment!
Please enter your name here

Most Popular

Recent Comments