Bitcoin Price Prediction – September 22
The Bitcoin price prediction is showing positive signs and it is likely to accelerate further higher if the bulls put more pressure.
BTC/USD Long-term Trend: Ranging (Daily Chart)
Resistance Levels: $49,000, $51,000, $53,000
Support Levels: $35,000, $33,000, $31,000
According to the daily chart, BTC/USD is seen trading well above the resistance level of $43,000. More so, the Bitcoin price is within touching distance of forming a new trend above the lower boundary of the channel, which is quite remarkable. However, the technical indicator also confirms as the Relative Strength Index (14) keeps moving above 40-level.
At the time of writing, the Bitcoin price is trading comfortably towards the 9-day and 21-day moving averages as the price establishes a new bullish signal. With the look of things, traders could see that the long-term outlook is favoring the bulls, giving the daily close produced a large bullish engulfing candle with eyes now set on the daily resistances at $49,000, $51,000, and $53,000 respectively.
However, any drop from the current level below the lower boundary of the channel could lead the king coin to the critical support levels. Therefore, in case BTC touches the low of $40,000 support, the first digital asset can rely on the long-term support levels at $35,000, $33,000, and $31,000 while the technical indicator suggests more bullish signals into the market.
BTC/USD Medium-term Trend: Bearish (4H Chart)
According to the 4-hour chart, the Bitcoin price is seen trading within the 9-day and 21-day moving averages at $43,490. However, today’s price move happens to be an impressive one as it climbs above the resistance level of $43,000 with a sharp upsurge. More so, BTC/USD is now maintaining its bull-run above this level as the technical indicator RSI (14) moves to touch 45-level.
However, BTC may take a downward move if the bulls failed to push the price higher and the coin may breach below the 9-day moving average which could reach another support at $41,000 and below. Nevertheless, if the bulls find a decent movement above the 21-day moving average, the coin may hit the resistance level of $46,000 and above.
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