Bitcoin Price Prediction – September 15th

The daily chart shows that the Bitcoin price prediction is making a comeback after hitting the monthly low of $ 42,830.

BTC / USD long-term trend: up (daily chart)

Key levels:

Resistance Levels: $ 52,000, $ 54,000, $ 56,000

Support levels: $ 43,000, $ 41,000, $ 39,000

BTCUSD – daily chart

At the time of writing, BTC / USD is hovering around the $ 48,129 resistance level. There have been instances where BTC has exchanged hands above the 21-day moving average to keep bullish price action intact. However, the path of least resistance remains on the downside as the daily chart shows that the coin remains within the 9 and 21 day moving averages.

Bitcoin Price Prediction: Would Bitcoin Price Go Up?

Looking at the daily chart, even $ 45,000 could not hold support if pennant support collapsed. Hence, Bitcoin price is likely to stay below the $ 50,000 resistance as the red line of the 9-day MA stays below the green line of the 21-day MA. According to the moving averages, Bitcoin (BTC) is not yet done with the downside. This means there is still room for the sellers to explore.

On the flip side, the rebound may not be easy as the support needs to be sorted above the $ 45,000 mark. The other sellers congestion zone to be aware of are $ 43,000, $ 41,000, and $ 39,000. On the flip side, if the market crosses the 21-day MA, it can likely see the potential resistance levels at $ 52,000, $ 54,000, and $ 56,000 as the Relative Strength Index (14) moves above the 50 mark.

BTC / USD mean – maturity trend: ranging (4H chart)

The 4-hour BTC / USD chart is trending in an upward channel formation. In the early hours of the morning today, Bitcoin (BTC) is observed to move from $ 48,090 to $ 48,197 before the coin reaches its current position. On the flip side, we have healthy support at $ 47,500. Further support could be around $ 46,500 and below.

BTCUSD – 4 hour chart

However, the technical indicator Relative Strength Index (14) is hovering below the 70 mark and pointing south. Although Bitcoin price hovers above the 9- and 21-day moving averages, further bullish moves could push the price above the upper bound of the channel to hit the potential resistance at $ 50,000 and above.

Would you like to buy or trade Bitcoin (BTC) now? Invest with eToro!

67% of retail investor accounts lose money when trading CFDs with this provider

Continue reading:

LEAVE A REPLY

Please enter your comment!
Please enter your name here