BTC Targets $22,000 Resistance But Tamadoge Stands Firm at the Upside
The Bitcoin (BTC) manages to maintain its position as the coin moves to touch the resistance level of $21,550.
Bitcoin Prediction Statistics Data:
Bitcoin price now – $25,000
Bitcoin market cap – $409.3 billion
Bitcoin circulating supply – 19.1 million
Bitcoin total supply – 19.1 million
Bitcoin Coinmarketcap ranking – #1
Resistance levels: $25,000, $27,000, $29,000
Support levels: $18,000, $16,000, $14,000
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BTC/USD undergoes a much-needed break to the positive side as the market opens today after touching the daily low at $20,889. The Bitcoin price is currently posting gains of over 0.18% within the chart, with the coin aiming to head towards the 9-day and 21-day moving averages.
BTC Could Move to the Upside while Tamadoge (TAMA) Moves Bullishly
The Bitcoin (BTC) price resumes back in the middle of consolidation after a slight drop towards the lower boundary of the channel. The market price now rebounds and moves toward the north. Meanwhile, the $22,000 resistance level is likely to come to play and the Bitcoin price may look for higher price levels if the bulls show commitment.
At the time of writing, the market displays a sign of subduing volatility with choppy price action. If the Bitcoin price decides to stay under the control of bears, the price may roll back to the previous supports at $18,000, $16,000, and $14,000 below the channel. On the upside, traders can expect the next resistance levels at $25,000, $27,000, and $29,000. In addition, the technical indicator Relative Strength Index (14) is likely to cross above the 40-level, which indicates that bullish movement may play out.
On the 4-hour chart, the Bitcoin price is crossing above the 9-day and 21-day moving averages in other to reach the nearest resistance level of $22,000. Unless the coin moves above the upper boundary of the channel, and the price ends up closing above $22,000, there might not be any reason to expect a long-term bullish reversal.
However, crossing below the moving averages could refresh lows under $21,000, and a possible bearish continuation may likely meet the critical support at $20,000 and below while the buyers may push the coin to the potential resistance level of $24,000 and above as the technical indicator Relative Strength Index (14) moves to cross above the 50-level, suggesting more bullish signals.
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