By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
IndebtaIndebta
  • Home
  • News
  • Banking
  • Credit Cards
  • Loans
  • Mortgage
  • Investing
  • Markets
    • Stocks
    • Commodities
    • Crypto
    • Forex
  • Videos
  • More
    • Finance
    • Dept Management
    • Small Business
Notification Show More
Aa
IndebtaIndebta
Aa
  • Banking
  • Credit Cards
  • Loans
  • Dept Management
  • Mortgage
  • Markets
  • Investing
  • Small Business
  • Videos
  • Home
  • News
  • Banking
  • Credit Cards
  • Loans
  • Mortgage
  • Investing
  • Markets
    • Stocks
    • Commodities
    • Crypto
    • Forex
  • Videos
  • More
    • Finance
    • Dept Management
    • Small Business
Follow US
Indebta > Markets > Crypto > Bitcoin Price Prediction as BTC Approaches $27,000 Resistance Level – What is the Next BTC Target?
Crypto

Bitcoin Price Prediction as BTC Approaches $27,000 Resistance Level – What is the Next BTC Target?

News Room
Last updated: 2023/06/20 at 4:52 PM
By News Room
Share
4 Min Read
SHARE

Bitcoin’s ascent towards the critical resistance level of $27,000 has hit a roadblock, as the cryptocurrency struggles to break above this key level.

Contents
Bitcoin PriceBitcoin Price Prediction Top 15 Cryptocurrencies to Watch in 2023Find The Best Price to Buy/Sell Cryptocurrency

The recent price action has resulted in the formation of an inverted hammer candlestick pattern, signaling potential selling pressure. 

If Bitcoin fails to cross above the $27,000 mark, it could present a profitable sell trade opportunity. 

In this Bitcoin price prediction, we will dive deeper into the technical outlook of BTC to assess the probability of a sell trade. 

Bitcoin Price

The current price of Bitcoin stands at $26,813, having a trading volume of $15.5 billion over the past 24 hours. 

In this time frame, Bitcoin has witnessed a positive growth of nearly 1.50%. With a live market cap of $520 billion, Bitcoin holds the top position on CoinMarketCap’s ranking. 

It has a circulating supply of 19,407,475 BTC coins, out of a maximum supply of 21,000,000 BTC coins.

Bitcoin Price Prediction 

Taking a closer look at the technical analysis of Bitcoin, it has encountered significant resistance at the $27,000 level. 

On the four-hour chart, there is a downward trend line that originated from the recent peak on May 29 and reconnected with the price action on June 20.

Bitcoin failed to break above this trend line and formed an inverted hammer candlestick, suggesting weakening bullish momentum. 

The presence of consecutive indecisive candles indicates a shift in control from buyers to sellers. 

The key support level for Bitcoin is around $26,275, and a breakdown below this level could expose it to the next support at $25,590. 

Further downside movement may lead to the next support level at $24,860.

Despite these bearish signals, the relative strength index (RSI) and moving average convergence divergence (MACD) indicators still indicate a buyer’s market sentiment. 

Additionally, the 50-day exponential moving average provides potential support for around $26,250. 

Therefore, Bitcoin’s future price action will depend on whether it breaks out of the trading range between $26,250 and $27,000.

A successful break above $27,000 could lead to further resistance levels at $27,600, $28,000, or even $28,450. 

In conclusion, it is crucial to monitor the $27,000 level as it acts as a pivot point for Bitcoin, potentially determining its future price movement.

Top 15 Cryptocurrencies to Watch in 2023

Stay informed about the latest initial coin offering (ICO) projects and alternative cryptocurrencies by regularly exploring our carefully selected collection of the top 15 digital assets to watch in 2023.

This thoughtfully curated list has been compiled by industry experts from Industry Talk and Cryptonews, ensuring that you receive professional recommendations and valuable insights.

Stay ahead of the game and discover the potential of these cryptocurrencies as you navigate the ever-changing world of digital assets.

Find The Best Price to Buy/Sell Cryptocurrency

Disclaimer: Cryptocurrency projects endorsed in this article are not the financial advice of the publishing author or publication – cryptocurrencies are highly volatile investments with considerable risk, always do your own research.

Read the full article here

News Room June 20, 2023 June 20, 2023
Share this Article
Facebook Twitter Copy Link Print
Leave a comment Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Finance Weekly Newsletter

Join now for the latest news, tips, and analysis about personal finance, credit cards, dept management, and many more from our experts.
Join Now
Fed says most policymakers see risks tariffs will cause ‘persistent’ inflation

Stay informed with free updatesSimply sign up to the US inflation myFT…

Revolut in talks to raise new funding at $65bn valuation

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects…

US measles cases surge to highest level since 1992

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects…

Linda Yaccarino steps down as chief executive of X

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects…

EU warns airline delays could be at worst ever this summer

Stay informed with free updatesSimply sign up to the Airlines myFT Digest…

- Advertisement -
Ad imageAd image

You Might Also Like

Crypto

'Fundamental Shift' in Traditional Bitcoin Market Cycle May Be on the Horizon

By News Room
Crypto

FTX/Alameda Unstakes Over $1B in Solana – Is a Major Price Shift Coming?

By News Room
Crypto

Mastercard Launches “Crypto Credential” To Replace Wallet Addresses With Usernames

By News Room
Crypto

Polygon Executive Pivots Roles To Developing ZK Proof Tech

By News Room
Crypto

Altcoin Interest Driving South Korean Crypto Craze – Report

By News Room
Crypto

Russian Central Bank Flags Sharp Rise in Crypto-related Activity

By News Room
Crypto

BitGo’s $100M Suit Against Galaxy Gets Green Light from Delaware Supreme Court

By News Room
Crypto

Here Are Your Top Crypto Gainers Today on DEXScreener

By News Room
Facebook Twitter Pinterest Youtube Instagram
Company
  • Privacy Policy
  • Terms & Conditions
  • Press Release
  • Contact
  • Advertisement
More Info
  • Newsletter
  • Market Data
  • Credit Cards
  • Videos

Sign Up For Free

Subscribe to our newsletter and don't miss out on our programs, webinars and trainings.

I have read and agree to the terms & conditions
Join Community

2023 © Indepta.com. All Rights Reserved.

Welcome Back!

Sign in to your account

Lost your password?