CRYPTO NEWS

BTC Falls Below $19,500; TAMA is Trending

The Bitcoin price prediction reveals that BTC continues to head to the downside as its price moves below $23,300 to touch the low of $23,104.

Bitcoin Prediction Statistics Data:

  • Bitcoin price now – $19,127
  • Bitcoin market cap – $366.6 billion
  • Bitcoin circulating supply – 19.1 million
  • Bitcoin total supply – 19.1 million
  • Bitcoin Coinmarketcap ranking – #1

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

Key levels:

Resistance Levels: $23,000, $25,000, $27,000

Support Levels: $17,000, $15,000, $13,000

Buy Bitcoin Now

Your capital is at risk

BTC/USD is trading around $19,127 below the 9-day and 21-day moving averages. Looking at the daily chart, Bitcoin (BTC) has remained in a bearish zone, and it is likely to slide below the lower boundary of the channel to touch the support of $19,000. However, the king coin is now plunging below the former resistance level of $19,500 which may cause many investors to take profits off the table.

Bitcoin (BTC) May Break More Downs, Tamadoge (TAMA) Keeps Trending

The Bitcoin price is currently changing hands at $19,127, however, where BTC trends next may partly depend on whether or not buyers can close today’s candle above the $19,500 level. Should in case this comes to play, the bulls may propel prices higher, and then traders may expect the king coin to rise above the $21,000 resistance, which could later move towards the potential resistance levels at $23,000, $25,000, and $27,000.

On the other hand, if the Bitcoin price failed to close above the $19,500 level; the price could drop towards the lower boundary of the channel. A low drive could send the price to $17,000, $15,000, and $13,000 supports. Meanwhile, the technical indicator Relative Strength Index (14) has recently revealed a sign of trend reversal as the signal line shows a possible bearish momentum within the clients.

BTC/USD Medium-term Trend: Ranging (4H Chart)

Looking at the 4-hour chart, following the rejection of $19,227, BTC/USD is trading under the 9-day and 21-day moving averages. Looking at it from above, if Bitcoin holds above $20,000, then the next level of resistance could be $22,000, along with the significantly mentioned ascending trend-line. The next resistance could be $22,000 and above.

BTCUSD – 4-Hour Chart

Meanwhile, as the technical indicator slides below the 40-level, this might have signaled a temporary end to the bullish trend of Bitcoin for a moment. However, if the coin falls below the lower boundary of the channel, the market price may likely reach the support levels of $17,000 and below.

Tamadoge, an ERC-20 token, will also have its initial DEX offering (IDO) on Uniswap. TAMA is set to list at $0.03. As the Tamadoge presale sold out earlier than expected, the team is reportedly moving forward with all TAMA crypto exchange listings to take place in the coming days.

Tamadoge – Play to Earn Meme Coin

Our Rating

Tamadoge logo
  • Earn TAMA in Battles With Doge Pets
  • Capped Supply of 2 Bn, Token Burn
  • Presale Raised $19 Million in Two Months
  • Upcoming ICO on LBank, Uniswap

Tamadoge logo

Related:

Bitcoin Cash prediction as price eyes breakout from a descending trendline

Bitcoin Cash has rejected a decline below $110 The price of the cryptocurrency has been tied to macro events BCH is eyeing a breakout as bear weakness abates Bitcoin Cash BCH/USD remains resilient despite a bear market. More often, Bitcoin Cash’s price movement has been related to that of Bitcoin. The former, a hard fork::Listen

  • Bitcoin Cash has rejected a decline below $110

  • The price of the cryptocurrency has been tied to macro events

  • BCH is eyeing a breakout as bear weakness abates

Bitcoin Cash BCH/USD remains resilient despite a bear market. More often, Bitcoin Cash’s price movement has been related to that of Bitcoin. The former, a hard fork of Bitcoin, has been hit by macro events that have dampened its price. 

As of press time, Bitcoin was struggling to retain $19,000. The price action highlights the impact of potential tighter economies on the largest cryptocurrency. BCH was slightly bullish, adding 1.51% in the last 24 hours. The token was barely attempting to rise above $120. But looking at the technical side, buyers have something to smile about for BCH.

BCH rejects decline below $110, highlighting a potential bottom level

eToro

eToro is one of the world’s leading multi-asset trading platforms offering some of the lowest commission and fee rates in the industry. It’s social copy trading features make it a great choice for those getting started.


Buy BCH with eToro today

Bitstamp

Bitstamp is a leading cryptocurrency exchange which offers trading in fiat currencies or popular cryptocurrencies.

Bitstamp is a fully regulated company which offers users an intuitive interface, a high degree of security for your digital assets, excellent customer support and multiple withdrawal methods.


Buy BCH with Bitstamp today

On the chart below, BCH has established support at $110. Bulls have defended the $110 level since July. While the bears remain in control, as indicated by the trendline and moving averages, the selling pressure is abating. BCH price has slightly risen above the descending trendline at a potential breakout zone. The price action shows buyers slowly winning against bears at the support zone.

Source – TradingView

The MACD indicator remains in the bear zone. However, the indicator shows that the bearish momentum is weakening. The view could be strengthened if bulls manage to take BCH above the moving averages. In that case, we will consider a sufficient breakout to issue a bull call on the cryptocurrency. 

Concluding thoughts

Bitcoin Cash token is starting to pull bullish moves despite a largely bear market. Bulls have rejected attempts by bears to take the price below the $110 support. With that in mind, we consider $110 as a probable bottom on BCH. The price is attractive if you are looking to hold in the long term. A bullish breakout could usher in more buyers.

The post Bitcoin Cash prediction as price eyes breakout from a descending trendline appeared first on CoinJournal.

BTC Falls Below $19,500; TAMA is Trending

Shopping cart
There are no products in the cart!
Continue shopping
0