Price Prediction

Jan 20 2021

Bitcoin Price Prediction: BTC/USD May See More Downside after Price Fails to Stay Above $37,000

Bitcoin (BTC) Price Prediction – January 20

The king coin has been facing some immense selling pressure as of late, with the support found within the $33,380 level.

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

Key levels:

Resistance Levels: $40,000, $42,000, $44,000

Support Levels: $30,000, $28,000, $26,000

BTC/USD has been struggling to maintain its uptrend, with the selling pressure within the $33,400 region which is stopping it from seeing any major gains throughout the past few days. Meanwhile, traders are not surprised by the selling pressure as bears are trying to defend against a break above the cryptocurrency’s all-time highs. However, until bulls break above this level, the king coin may likely face a prolonged sideways movement.

What is the Next Direction for Bitcoin?

At the time of writing, BTC/USD is trading down with 3.25% at its current price of $34,750. However, the coming few days may likely shine a light on Bitcoin’s outlook, as it is currently trading at a pivotal point. Therefore, any decline or rise from this level could determine its trend throughout the beginning of the next month.

BTC/USD is currently pushing below the 9-day and 21-day moving averages, with bears moving to erase the gains that came about at the early hour of today’s trading. More so, any bullish movement above the moving averages may push the price to the resistance level of $40,000, $42,000, and $44,000 while the supports are located at $30,000, $28,000, and $26,000 as the technical indicator remains moves below the 60-level.

BTC/USD Medium – Term Trend: Ranging (4H Chart)

Looking at the 4-hour chart, the resistance at the $36,000 has been too heavy for the bulls to overcome as the price is now struggling in a consolidation mode, which has made the cryptocurrency remain indecisive over the past few hours now. The resistance levels to watch are 37,000 and above.

Nevertheless, the coin is still roaming around $35,294 as bulls are pushing the price towards the moving averages. Meanwhile, the $32,000 and below may come into play as the technical indicator moves above 40-level.

Bitcoin Price Prediction: BTC/USD May See More Downside after Price Fails to Stay Above $37,000

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Jan 17 2021

Bitcoin Price Prediction: BTC/USD Currently Trades Around a Lowly Value of $36,000

Bitcoin Price Prediction – January 17
After several a visible number of trial efforts to breach past a main resistance price line around the $4,000 value, Bitcoin’s worth eventually relaxes muscle as trade with the US dollar until the present time of writing.

BTC/USD Market
Key Levels:
Resistance levels: $45,000, $50,000, $55,000
Support levels: $25,000, $20,000, $15,000

BTC/USD – Daily Chart
There has been a notable sell signal looming in the BTC/USD market, denoting that bulls’ pushing forces are now gradually getting weak. On January 11, the 14-day SMA trend-line broken southward to test a low point at $30,000. And, yet, the price is slightly trading below the sell signal of the smaller SMA trading indicator around the $35,000 level. The 50-day SMA is still underneath the price-value tested previously, a bit over a support line at $25,000.

What is likely the BTC/USD next price position?
In the meantime, a key resistance value at $40,000 has formed to mark a potential selling point for bears to brace up for a come-back. The BTC/USD bears now struggle to push the market down below $35,000. The Stochastic Oscillator has briefly crossed hairs to the south below range 80 to signify a falling pressure.

Should the present slight-falling forces hold long in the BTC/USD trading activities, bears could potentially move price past the former tested support trading area of $30,000 to afterward find a lower support level around $25,000 mark in no time. Meanwhile, at that earlier mentioned value, traders should be wary of getting late as there is a tendency that the market will see a quick-northward reversal move that could result in bears’ trap.

BTC/USD 4-hour Chart
Over a few trading days’ sessions, BTC/USD has been trading around three key variant levels of $40,000, $36,000 and, $32,000. Initially, the crypto’s value dumped below $32,000 and, later on, managed to recover back to touch a high mark at $40,000 on January 14.

Presently, price appears to fall under the $36,000 value, a bit below the two SMA trading indicators. That suggests that bears are some extent coming back to the crypto-market. But, Stochastic Oscillators have moved downward-pointing closer to range 20. Therefore, if the $32,000 price-line has to be breach southwardly, bears would have to exert more pressures to keep below it

Bitcoin Price Prediction: BTC/USD Currently Trades Around a Lowly Value of $36,000

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Jan 10 2021

Bitcoin Price Prediction: BTC/USD Slumps Below the Psychological Price of $40k, Larger Uptrend Intact

Bitcoin (BTC) Price Prediction – January 10, 2021
As of today, BTC/USD price has been consolidating above the $38,000 support level. The bulls have attempted to push BTC above the $42,000 resistance but faced rejection. The crypto is now fluctuating below the $41,000 resistance. Bitcoin price movement has been confined between $38,000 and $41,000.

Resistance Levels: $45,000, $46,000, $47,000
Support Levels: $35,000, $34,000, $33,000

Bitcoin’s current rally has been stalled below the $42,000 resistance level. On January 8, the coin rallied to $41,649 before it faced rejection at the recent high. For the past three days, the crypto has been fluctuating between $38,000 and $42,000. The king coin will attain a high of $45,000 when buyers overcome the resistance at $42,000. Bitcoin could not rally to $45,000 because the RSI is over level 76. On the downside, if the price retraces and breaks the $38,000 support, the market will drop to $30,850 low. Meanwhile, Bitcoin has fallen and it is trading at $39,261 at the time of writing.

Bitcoin Is Set to Explode as Biden Prepares $3 Trillion Stimulus
According to Axios, an Arlington based news outlet reports that Joe Biden has requested Congress to provide Americans with $2,000 in stimulus payments. The amount is to alleviate the economic devastation of Covid-19. The incoming president has also proposed a $3 trillion tax and infrastructure package as part of his “Build Back Better” program. This fiscal stimulus plan could send the BTC price rocketing higher again. In other words, the Biden administration’s plan to flood the U.S. economy with trillions of dollars could ignite the next leg of Bitcoin’s bull market. With this plan, more investors will seek refuge from a crumbling United States dollar.

Meanwhile, Bitcoin has fallen after failing to breach the $42,000 resistance. The coin has fallen to $39,261 low. On January 8 uptrend; a retraced candle body tested the 78.6% Fibonacci retracement level. This implies that the coin will rise and reverse at level 1.272 Fibonacci extensions. That is, Bitcoin will reach a high of $45,320.60 but will reverse. The reversal will not be immediate.

Bitcoin Price Prediction: BTC/USD Slumps Below the Psychological Price of $40k, Larger Uptrend Intact

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Jan 08 2021

Ripple Price Prediction: XRP/USD Falls Below $0.32 as the Coin Seeks Support Above $0.28

XRP Price Prediction – January 8

XRP/USD dropped a bit from $0.324 to $0.284 and this followed a bullish Thursday where the price went up from $0.246 to $0.370.

XRP/USD Market

Key Levels:

Resistance levels: $0.450, $0.500, $0.550

Support levels: $0.180, $0.130, $0.080

Having slumped beneath the $0.320, XRP/USD may continue to show weakness in price and fall at support until the market can find a stable level to reinforce the bullish run. For now, a new low is yet to be ascertained as the bears remain dominant and active over the past days. Meanwhile, traders may need to wait for the bears to exhaust momentum before entering the market. In addition, shorting the Ripple (XRP) may be the best position for now.

What to Expect from Ripple (XRP)

According to the daily chart, if the market resumes sell-off now, the Ripple (XRP) may cross below the 9-day moving average and could find immediate support at $0.225 and $0.220 while the critical supports lie at $0.180, $0.130, and $0.080. However, XRP/USD pair has continued to erode bearishly on the daily time frame as the 9-day MA remains below the 21-day MA.

In other words, a bullish rally could confirm if the market can climb significantly back above the 9-day and 21-day moving averages. Meanwhile, the technical indicator RSI (14) continues to produce a bearish move below the 50-level. Therefore, if the Ripple (XRP) manages to surge above $0.350, the market price may likely reach the resistance levels at $0.450, $0.500, and $0.550.

When compares with Bitcoin, the pair is consolidating within the channel and now moving above the 9-day moving average. Meanwhile, the buyers are making effort to push the coin to the north so that the bullish continuation may take it to the resistance levels of 1400 SAT and above respectively.

In other words, as the coin continues to drop towards the 9-day MA, then it may likely cross below the lower boundary of the channel and the nearest support levels to be reached are 0050 SAT and below. Moreover, the technical indicator RSI (14) moves around 30-level, which indicates a sideways movement.

Ripple Price Prediction: XRP/USD Falls Below $0.32 as the Coin Seeks Support Above $0.28

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Jan 05 2021

Bitcoin Price Prediction: BTC/USD Consolidates Above $31,000 After the Sharp Sell-off

Bitcoin (BTC) Price Prediction – January 5

BTC/USD slides below $32,000 after a day-long of acceptable bullish bias as the coin trades around $31,648.

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

Key levels:

Resistance Levels: $36,000, $36,200, $36,400

Support Levels: $25,200, $25,000, $24,800

BTC/USD drops below $32,000 during the early Asian hours of trading as the coin couldn’t recover above the 648 level so far. At the time of writing, the price of Bitcoin is moving around $31,823 as the coin is down with 1.16% within 24 hours. The number one cryptocurrency hit a brick wall on the approach to $33,000 and dropped under the pivotal area in a matter of hours.

Where is BTC Price Going Next?

The Bitcoin price remains above the 9-day and 21-day moving averages as the upside break above the channel is a must to start a substantial recovery. Meanwhile, the next hurdles may be seen near the resistance levels of $36,000, $36,200, and $36,400. On the downside, initial support is near the 21-day MA at $27,000 level and if there is a successful break below this level, the bears are likely to gain strength by bringing the price to a low of $25,200, $25,000, and $24,800 support levels.

Looking at the daily chart, BTC/USD is following a dominant bearish bias and a glance at the technical indicator RSI (14) displays a negative picture for BTC in the near-term. In addition, maintaining a gradual downward trend in the negative region, the signal line of RSI (14) decreases as it faces a downward trend for an increase in selling entries.

BTC/USD Medium – Term Trend: Bullish (4H Chart)

According to the 4-hour chart, Bitcoin’s price is currently trading around $32.096 and between the 9-day and 21-day moving averages after falling from $32,890 where the coin touched today. Meanwhile, the 4-hour chart reveals that the bullish supply is coming up slightly as the technical indicator RSI (14) is moving around 55-level to increase the bullish momentum.

However, the more the bulls strengthen and energize the market, the more they push the price to a $33,000 resistance level. Therefore, breaking the mentioned resistance could also allow the bulls to test the $34,000 and above. Meanwhile, the market is following the upward movement as the RSI (14) moves to cross above the 60-level, but any bearish movement below the lower boundary of the channel could reach the support level of $29,200 and below.

Bitcoin Price Prediction: BTC/USD Consolidates Above $31,000 After the Sharp Sell-off

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