As TAMA experiences inevitable growth, BTC risks a hot fall

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The Bitcoin price forecast shows BTC gaining strength above the moving averages as the coin moves sideways.

Bitcoin Forecast Statistics Information:

  • Bitcoin price now – $23,000
  • Bitcoin market value – 383.2 billion dollars
  • Bitcoin transfer supply – 19.1 million
  • Total supply of Bitcoin – 19.1 million
  • Bitcoin Coinmarketcap Rank – #1

BTC/USD Long Term Trend: Level (Daily Chart)

Key steps:

Resistance levels: $23,000, $25,000, $27,000

Support levels: $17,000, $15,000, $13,000

As TAMA faces the inevitable development, BTC risks a hot fall
BTCUSD – Daily Chart

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After another failure to stay above the $20,000 level; BTC/USD remains below the 9-day and 21-day moving averages. If the bulls fail to push above the moving averages, the price of Bitcoin may begin another decline. At today’s trading opening; The king coin will touch the $20,205 resistance level, but any further upside movement could bring the coin into bearish territory.

Bitcoin (BTC) May Head South, Buyers Pick Tamadoge (TAMA).

As Bitcoin price hovers below its moving averages, a break below the lower boundary of the channel could increase selling pressure below $19,000. Moreover, if there are more losses, the price may break the major supports at $17,000, $15,000 and $13,000. Meanwhile, the technical indicator Relative Strength Index (14) moves below the 40-level to increase bearish activity.

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On the other hand, if the king coin crosses above the 9-day and 21-day moving averages; A bearish movement may begin and the main resistance may be found around $20,500 and a clear break above this level may push the price to the $23,000, $25,000 and $27,000 resistance levels.

BTC/USD Medium Term Trend: Bearish (4H Chart)

According to the 4-hour chart, the coin may experience losing momentum if the coin breaks above the upper boundary of the channel. Currently, the volatility is still hovering, and the selling pressure is still there, this coin may lead to a fall. Meanwhile, BTC could play $19,000 and below if it breaks to the lower boundary of the channel.

BTCUSD – 4-hour chart

But if buyers can consolidate and strengthen the market, traders can expect a retest of the $20,000 resistance level and a break of this level will allow the bulls to reach the $21,000 resistance level and above. The Relative Strength Index (14) is moving to cross above the 50-level, indicating that more bullish signals may be at play.

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