Bitcoin Price Prediction: The Cryptocurrency Giant BTC Looking for a Recovery!

• Bitcoin price prediction suggests the consolidation phase of the cryptocurrency over the chart.
• BTC trading at 100-days DMA and is trying to sustain above 20 and 50 EMA.
• Bitcoin investors need to accumulate for the rescue of the tone from the consolidation phase.

Bitcoin price prediction suggests the sideways momentum of the greatest cryptocurrency over the chart. BTC has been stuck inside the long term consolidation phase over the daily chart. The crypto giant needs to accumulate more buyers as bears are trying to reverse the trend as it approaches the upper trendline of the consolidation phase. BTC has been consolidating inside the long term consolidation phase since 19th June. However, the token went through an interesting roller-coaster ride inside the consolidation phase.

Bitcoin price is currently estimated at $21262 and has lost 0.21% of its market capitalization in the last 24-hour period. Trading volume has decreased by 37.45% in the intraday trading session. This indicates that sellers are trying to short the market for BTC crypto. Buyers need to pay attention over the chart for the entry to let the token surge towards the upper price range.

Source: BTC/USD by TradingView

Bitcoin price has been consolidating inside the range and had an interesting roller coaster ride over the chart. BTC crypto is trading below 200-days DMA and is trying to sustain at 100-days DMA and is ahead of 20 and 50 EMA. However, volume change can be seen below average and needs to grow for BTC to surge for its recovery.

What do Technical Indicators suggest about BTC?

Source: BTC/USD by TradingView

Bitcoin price prediction prompts the sideways momentum and is confirmed by the technical indicators. Relative Strength Index showcases the downtrend momentum of BTC crypto. RSI is at 64 and is heading towards neutrality. MACD exhibits the sideways momentum of BTC. The MACD line is ahead of the signal line but with a minor difference. Investors in BTC must wait for any directional change and for the rebound of the cryptocurrency.

Conclusion

Bitcoin price prediction suggests the sideways momentum of the greatest cryptocurrency over the chart. BTC has been stuck inside the long term consolidation phase over the daily chart. BTC crypto is trading below 200-days DMA and is trying to sustain at 100-days DMA and is ahead of 20 and 50 EMA. The MACD line is ahead of the signal line but with a minor difference. Investors in BTC must wait for any directional change and for the rebound of the cryptocurrency.

Technical Levels

Support Levels: $20000 and $18500
Resistance Levels: $23000 and $25000

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.

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