BTC/USD Trades Around $27,363; Ready for Another Spike?

The Bitcoin price prediction shows that BTC is trading at $27,363 as the coin seems to be preparing for another upward movement.

Bitcoin Prediction Statistics Data:

Bitcoin price now – $27,363
Bitcoin market cap – $528.7 billion
Bitcoin circulating supply – 19.3 million
Bitcoin total supply – 19.3 million
Bitcoin Coinmarketcap ranking – #1

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

Key levels:

Resistance Levels: $32,000, $33,000, $34,000

Support Levels: $22,000, $21,000, $20,000

BTC/USD is attempting a fresh increase above the upper boundary of the channel as the king coin touches the daily high at $27,880. At the time of writing, the Bitcoin price could gain bullish momentum if there is a clear move above the $28,000 resistance. However, the first digital asset could rise further if there is a strong bullish movement that crosses above the upper boundary of the channel.

Bitcoin Price Prediction: BTC/USD Ready for another Cross above $28k

The Bitcoin price is crossing above the 9-day and 21-day moving averages, any further bullish movement could locate the potential resistance levels at $32,000, $33,000, and $34,000. Normally, when new uptrends are coming up, traders may use the moving averages to gauge the strength of the trend. Nevertheless, if BTC/USD soars above the upper boundary of the channel, it could be a sign of sustainability and could result in a bullish continuation.

Nevertheless, if the Bitcoin price fails to move up; traders may see a price cut towards the lower boundary of the channel, and a further low could bring the price to the support levels at $22,000, $21,000, and $20,000 respectively. But as it stands, the Bitcoin price is likely to rise as the technical indicator Relative Strength Index (14) moves into the overbought region.

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

According to the 4-hour chart, the market is following a sideways movement above the 9-day and 21-day moving averages as the bulls are coming back into the market to push the king coin above the upper boundary of the channel. If not, the support level of $24,000 and below may come into play.

However, if the bulls push the market above the channel, traders may expect a retest of the $27,800 resistance level, and breaking this level could hit the resistance level of $32,000 and above. Meanwhile, the technical indicator Relative Strength Index (14) keeps moving within the overbought region, suggesting bullish signals.

Alternatives to Bitcoin

According to the daily chart, if the Bitcoin price stays and keeps moving above the 9-day and 21-day moving averages conveniently; it is likely for the king coin to touch the $28,000 level. However, this is where traders should expect buyers to fight for a further rise and further development of the bullish trend. Do you know that you can vote to earn? As an investor, by staking LHINU tokens, users can participate in the latest polls and earn tokens for voting as the community will decide on which polls they want to create. Love Hate Inu has since the beginning of the presale raised close to $2 million.

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