BTC/USD Stalls at $16,800 Level, What Next?

The Bitcoin rate forecast reveals that BTC is trading above the resistance level of $16,800 as bears might have the upper hand.

Bitcoin Forecast Data Data:

Bitcoin rate now– $16,841.
Bitcoin market cap– $324 billion.
Bitcoin flowing supply– 19.2 million.
Bitcoin overall supply– 19.2 million.
Bitcoin Coinmarketcap ranking– # 1.

BTC/USD Long-lasting Pattern: Ranging (Day-to-day Chart)

Secret levels:

Resistance Levels: $22,000, $24,000, $26,000

Assistance Levels: $13,000, $11,000, $9,000

BTC/USD is trading at $16,841 after recuperating from the day-to-day low of $16,775. The very first digital possession is transferring to cross above the 9-day and 21-day moving averages however it might deal with trade bearishly if the bears go back into the marketplace.

Bitcoin Rate Forecast: Bitcoin (BTC) Bears Might Resume

According to the day-to-day chart, the Bitcoin rate requires to cross above the 9-day and 21-day moving averages, if not, there might come a bearish breakdown if BTC/USD falls back to the assistance of $15,000. The 9-day MA is most likely to cross above the 21-day MA as the technical sign Relative Strength Index (14) transfers to cross above 50-level which is most likely a bullish pattern at the time of the result.

Nevertheless, BTC/USD might verify the bullish pattern if the marketplace rate touches the resistance level of $18,000. To put it simply, the Bitcoin rate might follow the bearish pattern if the rate slides and deal with the lower border of the channel. Must this pertain to focus, BTC/USD might strike the assistances of $13,000, $11,000, and $9,000. Otherwise, a strong bullish spike might press the rate above the upper border of the channel which might touch the resistance levels of $22,000, $24,000, and $26,000.

BTC/USD Medium-term Pattern: Ranging (4H Chart)

Taking A Look At the 4-hour chart, the Bitcoin rate is most likely to cross above the 9-day and 21-day moving averages if the bulls put in more effort. Nevertheless, if the rate continues to increase even more and presses it above the upper border of the channel, it might reach the prospective resistance level of $18,000 and above.

However, if the bears bring the coin listed below the lower border of the channel, the Bitcoin rate might reach the closest assistance at $16,000 and below. At the minute, the technical sign Relative Strength Index (14) is seen moving above the 50-level, recommending a bullish pattern for the marketplace.

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