Bitcoin Price Prediction – September 18
The Bitcoin price prediction shows BTC trading in a tight range between $48,500 and $47,000 for the past few days.
BTC/USD Long-term Trend: Ranging (Daily Chart)
Key levels:
Resistance Levels: $52,000, $54,000, $56,000
Support Levels: $44,000, $42,000, $40,000
BTC/USD movement on the daily chart has reflected improvement and if the same remains locked, then the expectation of recovery could turn out to be true. However, the Bitcoin price is seen trading at $48,097 after soaring to the $48,825 resistance level. The coin then pulled back to where it is trading currently and may continue to head downwards if the bears reclaim back the marker movement.
Bitcoin Price Prediction: Bitcoin Price May Cross into the Positive Side
According to the daily chart, the Bitcoin price is seen heading towards the resistance level of $49,000. At the moment, the market is deciding around $48,097 around the 21-day moving average within the channel, where the buyers are anticipating a clear cross above the 21-day MA. However, a strong bullish spike may likely take the price to the resistance levels of $52,000, $54,000, and $56,000.
Moreover, if the market decides to follow the downward trend, the Bitcoin price may likely drop below the lower boundary of the channel, and should this barrier fails to contain the sell-off, traders may see a serious drop to the critical support levels of $44,000, $42,000, and $40,000. More so, the technical indicator Relative Strength Index (14) reveals that the coin may still be in the bullish movement mode in as much as the signal line moves to cross above 60-level. Turning downward may result in immediate supports.
BTC/USD Medium-Term Trend: Ranging (4H Chart)
BTC/USD trades within the range of $47,808 to $48,227. Today, the Bitcoin price has not yet slipped below $48,000 and the king coin is still in the loop of making a bounce back. At the moment, Bitcoin (BTC) is trading around $48,022 and may take time to trade above $49,000. Therefore, the potential resistance level to look out for could be located around $50,000 and above.
On the downside, the immediate support is below the 9-day moving average while the main support is at the $47,000 level. If this support failed, the coin may likely drop to the support level of $46,500 and below as the technical indicator Relative Strength Index (14) moves below 55-level.
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