- BTC price prediction ranges from $21000 to $19,500.
- The price of the coin dropped by 1.24% within 24 hours.
- BTC’s bearish market price prediction is $19000.
Despite the crypto market being in a crypto winter and having been down for months, Bitcoin has pulled back to the $21,000 level after falling from $68,000 and approaching the resistance zone of $20,000-$19,000.
Looking at the 1-hour chart of BTC/USDT, the price of Bitcoin is still under the 200 MA and it is now moving sideways inside a bear flag. Being inside a bear flag indicates that the price decline will continue after the monetary halt. As a continuation pattern, we can expect that the bear flag will assist the sellers to push the price movement downward.
The RSI of BTC in the 1-hour chart of BTC/USDT is currently 43.44. RSI value below 50 means the sellers have more pressure in the market rather than the buyers. Closing below the $20,000 support level might trigger another drop in the short future. In the mentioned instance, the price may fall near the $19,000 mark.
The largest cryptocurrency by market cap, Bitcoin (BTC), is gaining more value above the support level of $20745.72 and moving higher. Ever since the market crash, everyone has been hoping to reverse the market conditions from the downtrend. The 4-hour chart of BTC/USDT shows a small bear flag inside the main bear flag which means that the selling pressure hasn’t been exhausted completely yet.
According to CoinMarketCap, Bitcoin is currently trading at $21,426.08, with 19,132,487 BTC in circulation. BTC has a 24-hour trading volume of $29,817,608,374.29. During 24 hours, BTC is showing a decrease of 1.24%.
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