BTC/USD rebounds above $19,000 level

The Bitcoin price prediction shows that BTC is now moving above the $19,000 level as the crypto prepares for a new trend.

Bitcoin Prediction Statistics Data:

• Bitcoin price now – $19,178
• Bitcoin market cap – $368 billion
• Bitcoin circulating supply – 19.1 million
• Bitcoin total supply – 19.1 million
• Bitcoin Coinmarketcap Ranking – #1

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

Key Levels:

Resistance levels: $22,000, $23,000, $24,000

Support levels: $17,000, $16,000, $15,000

BTC/USD is slightly in the green after adjusting from short-term support at $19,110. At the time of writing, the first digital asset is moving towards the 9-day and 21-day moving averages, but buyers have their eyes on the first key obstacle of $20,000 when the coin begins to create a new trend.

Bitcoin Price Prediction: Could BTC Price Retest $20,000 Resistance?

Looking at the daily chart, can traders say that the Bitcoin price is back in the hands of the bulls? The technical indicator Relative Strength Index (14) is seen moving above the 40 level, if the indicator can start an upward trend, the price can also be pushed towards the resistance level of $21,000. On the other hand, the gap between the 9-day moving average and the 21 -day moving average that the upward movement can still enter.

Nevertheless, BTC/USD could also settle in a tight range bounded by $19,000 on the downside and $20,000 on the upside. Therefore, if the market price breaks above the upper limit of the channel, BTC/USD could hit the potential resistance levels of $22,000, $23,000 and $24,000 while supports are placed towards the lower limit of the channel at $17,000, $16,000 and $15,000 respectively.

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

The 4-hour chart reveals that BTC/USD is trading above the 9-day and 21-day moving averages. However, the coin could weaken if the $19,000 support is breached once more. This could likely cause the Bitcoin price to fall towards the lower limit of the channel, which could bring it to the critical support level of $18,700 and below.

On the contrary, if the bulls regroup and hold the current price tight, BTC/USD is likely to cross above the upper boundary of the channel to hit the potential resistance level of $19,800 and above as the technical indicator Relative Strength Index (14) remains above 50 – level, which is likely to provide further bullish signals.

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