Bitcoin Struggles to Break $17k, Price Prediction Slides Below $17,000
• Bitcoin price prediction for today shows that BTC is down 0.63% and trading near the $17,000 resistance level.
• If Bitcoin closes above $17k, it could avoid another downtrend and potentially rise well above $18,000.
• The coin attempted to push higher but sellers stepped in, bringing the coin lower to the daily low of $16,553.
Today’s Bitcoin price prediction is that the world’s leading cryptocurrency struggles to close above the $17,000 resistance level. After a slightly positive move above $16,700, the Bitcoin price is sliding below the 9-day and 21-day moving averages. Over the past few days, the king coin has been struggling to break toward the upper boundary of the channel.
The coin attempted to push higher, but the sellers step in and begin to bring the coin lower to touch the daily low of $16,553. As of writing, the king coin is down 0.63% on the day at $16,733 below the 9-day and 21-day moving averages. Bitcoin’s market cap is currently at $319.5 billion with a circulating supply of 19.2 million coins and a total supply of 19.2 million coins.
In order to avoid another downtrend, Bitcoin needs to close above $17,000. If the coin does so, it should be free to rise well above $18,000 if it moves in the next positive direction. Meanwhile, Bitcoin’s key resistance levels are at $21,000, $23,000, and $25,000, and its key support levels are at $14,000, $12,000, and $10,000.
Overall, the Bitcoin price prediction for today shows that the coin could potentially move higher if it closes above $17,000. However, the coin needs to gain more momentum in order to avoid another downtrend. It remains to be seen whether the coin will be able to break through the resistance level or not.