BTC risks a fresh drop to $18,500, OKX TAMA lists.

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The Bitcoin Price Forecast shows that BTC has just gained strength above its moving average as the coin shows few signs of bearishness.

Bitcoin Forecast Statistics Information:

  • Bitcoin price now – $19,106
  • Bitcoin market value – 366.1 billion dollars
  • Bitcoin transfer supply – 19.1 million
  • Total supply of Bitcoin – 19.1 million
  • Bitcoin Coinmarketcap Rank – #1

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

Key steps:

Resistance levels: $22,000, $24,000, $26,000

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

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After another failure to stay above the $19,300 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 coin will touch the $19,311 resistance level, but any further bearish movement could keep the coin in the breakout zone.

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As the price of Bitcoin hovers below the 9-day and 21-day moving averages, a move to the lower border of the channel may begin showing signs 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 to cross below the 40-level to increase bearish activity.

On the other hand, if the king coin crosses above the 9-day and 21-day moving averages; A serious movement may begin. Moreover, the nearest resistance can be found around $20,000 and a clear break above this level can push the price to the $22,000, $24,000 and $26,000 resistance levels.

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

According to the 4-hour chart, the coin may gain lost momentum if it breaks above the upper border of the channel, but at the moment the volatility is still hovering, and there is selling pressure, which may lead the coin to fall. . Meanwhile, BTC could play $18,000 and below if it heads towards the lower border of the channel.

BTCUSD – 4-hour chart

But if buyers can strengthen and strengthen the market, traders can expect a retest of the resistance level of $19,119, breaking this level will allow the bulls to reach the resistance level of $20,500 and above. The relative strength indicator (14) is moving around the 50-level, which indicates that the market may start to move sideways.

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