BTC/USD Could Hit $22,000 Level

Bitcoin Price Prediction for Today, January 17: BTC/USD Could Hit $22,000 Level

[ad_1]

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

The Bitcoin price prediction shows that BTC bounces off the support at $20,800 as the coin moves close to the resistance level of $21,500.

Bitcoin Prediction Statistics Data:

Bitcoin price now – $21,185
Bitcoin market cap – $408.9 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: $25,000, $27,000, $29,000

Support Levels: $18,000, $16,000, $14,000

BTC/USD is currently trading around $21,185 with a 0.01% loss after touching the daily high at $21,300. The Bitcoin price may fight to stay above the important level of $21,500 as it could cross above the upper boundary of the channel. However, for the Bitcoin price to remain above this barrier, the bulls may need to make the $21,000 support level to be strong.

Bitcoin Price Prediction: Bitcoin (BTC) May Revisit the Upside

At the time of writing, the Bitcoin price is seen moving above the 9-day and 21-day moving averages, and if it breaks above this barrier, the market price could touch the nearest resistance level of $22,000. However, the king coin needs to claim this important resistance level to head to the upside. Otherwise, the supports at $18,000, $16,000, and $14,000 may likely come to focus.

Nevertheless, the Relative Strength Index (14) is likely to remain within the overbought region, but the recovery may not come easy, and traders must be aware that support will have to be sort above $21,000 before heading to the resistance levels at $25,000, $27,000, and $29,000.

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

On the 4-hour chart, the technical indicator Relative Strength Index (14) moves to cross below the 70-level and could rise to the north of the bulls and step back into the market. According to the chart, there is a little bullish movement within the market as the technical indicator could face the upside.

BTCUSD – 4-Hour Chart

Moreover, if the Bitcoin price moves up and breaks toward the upper boundary of the channel, the market price could reach the potential resistance at $23,000 and above. On the contrary, if the current market value drops below the lower boundary of the channel, it may touch the support at $19,500 and below.

However, Meta Masters Guild (MEMAG) is the most rapidly growing Play-to-Earn guild of this year. Therefore, it is going to be the biggest mobile gaming guild in Web3. Fun and interesting games, which are compatible with NFTs, are created. And there, community members are rewarded as they speculate and also invest. The MEMAG presale is ongoing and close to $500,000 has been raised so far.

Related

Meta Masters Guild – Play and Earn Crypto

Meta Masters Guild

Innovative P2E NFT Games Library Launching in 2023
Free to Play – No Barrier to Entry
Putting the Fun Back Into Blockchain Games
Rewards, Staking, In-Game NFTs
Real-World Community of Gamers & Traders
Round One of Token Sale Live Now – memag.io

Meta Masters Guild

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

[ad_2]

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *