TRENDING:
Oil price
XAU/USD
EUR/USD
GBP/USD
Silver
Sponsored by
|

Bitcoin Price Prediction: BTC bears eye two-month-old support line amid losses below 21-day SMA

  • BTC/USD stands on a slippery ground, fails to keep bounces off key support line.
  • Sustained trading below 21-day SMA, bearish MACD favor sellers.
  • Monthly falling trend line adds to the upside barrier.
Bitcoin Price Prediction: BTC bears eye two-month-old support line amid losses below 21-day SMA
Anil PanchalAnil PanchalFXStreet

BTC/USD holds lower ground, currently near the intraday low of 18,172, during early Friday. The crypto major marked the second failure to break an upward sloping trend line from October 09 the previous day. However, bearish MACD and extended weakness below the 21-day SMA favor the Bitcoin sellers.

Hence, further weakness towards the key support line, at 18,064 now, can’t be ruled out.

Though, any more downside past-18,064 will need validation from the 18,000 round-figures before eyeing the late-November lows around 16,210.

During the quote’s downside between 18,000 and 16,210, lows marked during November 22 and December 09, around 17,640/20, can offer breathing space to the BTC/USD bears.

Meanwhile, an upside break of 21-day SMA, currently around 18,600 will look to confront a falling trend line from December 01, at 19,131 now.

In a case where the BTC/USD bulls manage to dominate past-19,131, the monthly peak of 19,914 and the 20,000 psychological magnet will be in the spotlight.

BTC/USD daily chart

Trend: Bullish

Additional important levels

Overview
Today last price18250.55
Today Daily Change0.00
Today Daily Change %0.00%
Today daily open18250.55
 
Trends
Daily SMA2018619.56
Daily SMA5016444.12
Daily SMA10013653.97
Daily SMA20011927.32
 
Levels
Previous Daily High18556.36
Previous Daily Low17907.62
Previous Weekly High19914.17
Previous Weekly Low17535.82
Previous Monthly High19864.5
Previous Monthly Low13219.52
Daily Fibonacci 38.2%18155.44
Daily Fibonacci 61.8%18308.54
Daily Pivot Point S117919.99
Daily Pivot Point S217589.43
Daily Pivot Point S317271.25
Daily Pivot Point R118568.73
Daily Pivot Point R218886.92
Daily Pivot Point R319217.48

Author

Anil Panchal

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

More from Anil Panchal
Share:

Editor's Picks

Why altcoin season isn't coming back — and what stole its capital

Why altcoin season isn't coming back — and what stole its capital

If, after two years of being frozen in ice, Katara and Sokka woke you up to the crypto market, it would seem like 100 years have passed. With Bitcoin soaring to record highs just over a year ago, everyone expected a routine altcoin season, where investors take profits from the top crypto to chase higher returns in altcoins.

Bitcoin Weekly Forecast: BTC shrugs off CLARITY Act setback and hawkish Fed

Bitcoin Weekly Forecast: BTC shrugs off CLARITY Act setback and hawkish Fed

Bitcoin recovers, trading above $78,000 on Friday, but the 50-week SMA near $78,760 continues to cap its upside. A hawkish Fed outlook, escalating Middle East tensions, and the CLARITY Act's failure to advance in the US Senate could limit BTC upside.

Why Bitcoin's over 30% rebound doesn't mean the bear market cycle is done

Why Bitcoin's over 30% rebound doesn't mean the bear market cycle is done

BTC has staged a strong recovery after falling to a yearly low of $57,800 in July, gaining nearly 33% and recording two consecutive months of gains in July and August. Is this the start of a new bullish phase, or simply another recovery within a broader bear-market cycle?

Crypto Today: Bitcoin, Ethereum, XRP eye short-term breakout as bulls return

Crypto Today: Bitcoin, Ethereum, XRP eye short-term breakout as bulls return

Bitcoin trades higher near $78,000 on Friday as bulls return after early-week macro uncertainty and regulatory headwinds. Ethereum aligns with the broader crypto market’s neutral-to-bullish outlook, holding support above $2,400 and gaining momentum for a short-term breakout at $2,500.

Bitcoin: BTC shrugs off CLARITY Act setback and hawkish Fed

Bitcoin: BTC shrugs off CLARITY Act setback and hawkish Fed

Bitcoin (BTC) price action has remained resilient this week, trading above $78,000 at the time of writing on Friday, heading toward a key resistance zone. Institutional demand shows early signs of weakness, with spot Exchange Traded Funds (ETFs) on track for a second straight week of outflows, with over $420 million recorded through Thursday amid escalating Middle East tensions.