Bitcoin Price Prediction for Today, August 12: BTC Could Hit $25,000 Level
The Bitcoin price prediction shows that BTC bounces off the support at $23,600 as the coin trades around the resistance level of $24,180.
Bitcoin Prediction Statistics Data:
Bitcoin price now – $24,180
Bitcoin market cap – $460.9 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)
Resistance Levels: $32,000, $34,000, $36,000
Support Levels: $19,000, $17,000, $15,000
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BTC/USD is currently trading around $24,180 with a 0.98% gain above the 9-day and 21-day moving averages. The Bitcoin price may fight to stay above the important level of $25,000 as it could move to cross above the upper boundary of the channel. However, for BTC/USD to remain above this barrier, the bulls may need to make the $24,000 support level to be strong.
Bitcoin Price Prediction: Bitcoin (BTC) May Head to the Upside
At the time of writing, the Bitcoin price is making attempt to cross above the upper boundary of the channel, and if it keeps moving to the upside, the market price could touch the nearest resistance level of $27,000. However, the king coin needs to claim this important resistance level to gain more upsides. Otherwise, the supports at $19,000, $17,000, and $15,000 may likely come to focus.
Nevertheless, the Relative Strength Index (14) is crossing above the 60-level, but the recovery may slow, and traders must be aware that the king coin will have to be sorted above the channel before heading to the resistance levels at $32,000, $34,000, and $36,000.
BTC/USD Medium-term Trend: Ranging (4H Chart)
On the 4-hour chart, the technical indicator Relative Strength Index (14) is below the 60-level and may cross above this barrier to begin an upward movement. Moreover, the chart reveals that there is likely to be a little bullish movement within the market as the technical indicator could face the upside.
However, if the Bitcoin price moves up and crosses above the channel, the market price could reach the potential resistance at $25,500 and above. On the contrary, if the current market value drops below the 9-day and 21-day moving averages, sliding towards the lower boundary of the channel may locate the support at $23,000 and below.
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