• Bitcoin price prediction reveals that BTC is yet to gain strength above the resistance level of $25,000.
• Technical indicator Relative Strength Index (14) suggests sideways movement for the coin.
• If buyers can reinforce and power up, BTC/USD could experience a clear break above the resistance levels of $28,000, $29,000, and $30,000.
Bitcoin Price Prediction for Today
The Bitcoin price prediction reveals that BTC is yet to gain strength above the resistance level of $25,000 as the coin ranges. At the opening of today’s trading; the king coin touches the resistance level of $24,495 but begins to bring the coin below the 9-day moving average.
Technical Indicator
The technical indicator Relative Strength Index (14) moves in the same direction around the 40-level, suggesting sideways movement. On the other hand, if the king coin crosses above the 9-day moving average; it could head towards the upper boundary of the channel and a clear break above this barrier may cause Bitcoin to reach its resistance levels at $28,000, $29,000 and $30,000.
Possible Movements
As Bitcoin hovers within moving averages heading towards lower boundary of channel may increase selling pressure; if there are more losses then it could break major supports at $21K-$19K. Meanwhile if buyers reinforce and power up then it could head towards upper boundary of channel and a clear break will take BTC to its resistance levels.