BTC/USD Yet to Reclaim $18K Resistance

The Bitcoin price prediction shows BTC trading with a gain of 0.14% within 24 hours as it trades around the $17,000 level.

Bitcoin Prediction Statistics Data:

• Bitcoin price now – $17,151
• Bitcoin market cap – $329.9 billion
• Bitcoin circulating supply – 19.2 million
• Bitcoin total supply – 19.2 million
• Bitcoin Coinmarketcap ranking – #1

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

Key levels:

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

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

The daily chart reveals that BTC/USD could not reclaim the previous resistance level of $18,000 as the Bitcoin price keeps ranging within the channel. However, if the king coin slide below the 9-day and 21-day moving averages, the first support level could be located at $16,500. Beneath this, critical supports could be found at $14,000, $12,000, and $10,000.

Bitcoin Price Prediction: Can Bitcoin Price Reclaim $18k?

Today’s trading marks another day that the Bitcoin price fails to break to the upside as it looks to set up another few days of a negative price below $17,000. Meanwhile, a break above the opening price of $17,128 would have set the first digital asset up to reach the nearest resistance at the $17,500 level. In other words, traders can see that Bitcoin (BTC) fails to break up as the technical indicator Relative Strength Index (14) keep moving in the same direction.

Nevertheless, the Bitcoin price couldn’t go higher as it could head towards the lower boundary of the channel. Though the candle is still yet to close, the bulls may likely end up closing above the opening price of $17,128. Moreover, should the technical indicator move below the 50-level, the market price may slide to the negative side but breaking above the upper boundary of the channel could meet the resistance levels at $21,000, $23,000, and $25,000.

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

Looking at the 4-hour chart, the bears are likely to come back into the market as the bulls failed to push the coin higher. However, $16,700 and below may come into play if the bearish momentum increases the market movement as the technical indicator Relative Strength Index (14) could move below the 40-level, suggesting more bearish signals.

On the contrary, if the buyers hijack the current movement and push it upward, traders may expect a retest at a $17,500 resistance level; breaking this level may further allow the bulls to hit the resistance level of $17,800 and above.

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