Bitcoin Price Prediction: BTC/USD Moves Past $46,000


Bitcoin Price Prediction – September 12

The Bitcoin price prediction is caught in the middle of a bull market as the Bitcoin price rises to the $46,274 resistance level.

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

Key levels:

Resistance Levels: $50,000, $52,000, $54,000

Support Levels: $42,000, $40,000, $38,000

BTCUSD – Daily Chart

BTC/USD is beginning to see some signs of immense strength as buyers propel it up towards $47,000. Meanwhile, the coin has not been able to climb the $46,000 as neither the bulls nor the bears are looking to hold the price by the scruff of its neck. Actually, all this may soon change as the Bitcoin price may need to keep going strong and pointing towards an upside breakout.

Bitcoin Price Prediction: Bitcoin (BTC) Prepares for the Upside

At the time of writing, the Bitcoin price is trading up 1.63% at its current price of $45,906. Moreover, as the resistance mounts, the movement towards $46,500 may likely come into focus and the next few positive moves may likely reveal where Bitcoin (BTC) may follow.

However, should in case the buyer push the price above the 9-day and 21-day moving averages, moving up further could take the price to the resistance levels of $50,000, $52,000, and $54,000. Fortunately, the technical indicator Relative Strength Index (14) is likely to touch 50-level, which could indicate more bullish signals into the market.

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

According to the 4-hour chart, the Bitcoin buyers have not been able to keep the market price above the 9-day and 21-day moving averages as the chart reveals that the coin is moving sideways above the moving averages. However, the Bitcoin price is likely to return to the bull market if the price breaks above the $46,000 level. Higher resistance could be located at $48,500 and above.

BTCUSD – 4 Hour Chart

Moreover, if the price drops below the moving averages, even $44,500 may not be able to hold the support as the technical indicator Relative Strength Index (14) remains below 50-level. Therefore, the king coin is likely to visit the $43,500 and below if the price breaks below the lower boundary of the channel.

Looking to buy or trade Bitcoin (BTC) now? Invest at eToro!

67% of retail investor accounts lose money when trading CFDs with this provider

Read more:

Source link

You might also like
Leave A Reply

Your email address will not be published.