Bitcoin Price Prediction – September 20
At the moment, the Bitcoin price prediction reveals that BTC is seen dropping seriously as the coin faces the south.
BTC/USD Long-term Trend: Ranging (Daily Chart)
Resistance Levels: $51,000, $53,000, $55,000
Support Levels: $40,000, $38,000, $36,000
Today, BTC/USD failed to break above the previous resistance level of $47,000 as the coin trades below the 9-day moving average. Moreover, Bitcoin (BTC) begins the day off by trending lower toward the $42,000 level inside the channel as the first support level could be found at $41,000. Any bearish movement beneath this may hit the critical supports at $40,000, $38,000, and $36,000.
Bitcoin Price Prediction: Bitcoin (BTC) May Dig Dip Again
Today’s trading marks another day that the Bitcoin price fails to stay above the 21-day moving averages as it looks to set up another few days of negative price declines beneath $42,000. Meanwhile, a break above the opening price of $48,000 would have set the first digital asset up to reach the nearest resistance at the $50,000 level. In other words, traders may see Bitcoin falling below the lower boundary of the channel as the technical indicator Relative Strength Index (14) is about to cross below 40-level.
Today, BTC/USD couldn’t go higher as it is seen on the daily chart, although the candle is still yet to close and it does not look like the bulls may end up closing above the opening price. However, should the technical indicator moves below 40-level, the market price may end within the negative side but on the contrary, moving towards the upside could meet the resistance levels at $51,000, $53,000, and $55,000.
BTC/USD Medium-Term Trend: Bearish (4H Chart)
Looking at the 4-hour chart, the bears are moving heavily within the market as the coin touches the daily low of $42,501. However, the $41,500 and below may come into play if the bearish momentum increases the market movement.
However, if the buyers hijack the current movement and push it upward, traders may expect a retest at a $45,000 level; breaking this level may further allow the bulls to hit $45,500 and above. At the moment, the technical indicator Relative Strength Index (14) is seen moving within the oversold region, suggesting more bearish signals into the market.
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