By Bitcoin Price Prediction as BTC Fails To Break $27,000 Threshold – Stuck in a Rut?
As of today, Bitcoin is priced at $26,600, witnessing a subtle rise of nearly 0.10% over the past 24 hours and commanding a trading volume of $6.4 billion.
Despite its position as the premier cryptocurrency, ranked #1 on CoinMarketCap, and a staggering market capitalization of $518 billion, Bitcoin appears tethered, unable to breach the pivotal $27,000 threshold.
The currency’s circulating supply stands at 19,494,637 BTC, with an eventual cap set at 21,000,000 BTC.
Bitcoin Price Prediction
Having faced a barrier at the $27,500 level, Bitcoin’s price has started its downward trajectory. The digital asset struggled recently, unable to surpass the $27,500 resistance, which subsequently saw it dip below the $27,000 and $26,800 levels, signalling a bearish inclination.
Furthermore, the BTC/USD pair witnessed a disturbance in its upward momentum, slipping beneath its trend line support around the $26,800 point on an hourly chart.
The duo then touched down to the $26,350 level and is currently navigating through a period of consolidating its losses.
At the moment, Bitcoin lingers under the $27,000 level and is below the 100-hourly Simple Moving Average.
An immediate hurdle awaits at the $26,800 vicinity, with a more prominent barrier nearing the $27,000 mark, underscored by a dominant bearish trajectory.
If Bitcoin manages to break past the $27,050 benchmark, it might embark on an upward stride, aiming for the $27,500 resistance.
Noteworthy advancements beyond this might position it for a push to the $28,800 level in the upcoming days. Yet, if Bitcoin remains subdued beneath the $27,000 resistance, its downward trend might continue.
Support for the cryptocurrency is presently anchored around the $26,350 level, followed by a critical support zone at roughly $26,200.
A decisive move and close below the $26,200 point could instigate a more pronounced bearish momentum, potentially pushing Bitcoin towards the next support stationed at $25,400.
Top 15 Cryptocurrencies to Watch in 2023
Get ahead of the game in the world of digital assets by checking out our carefully curated selection of the top 15 alternative cryptocurrencies and ICO projects to watch for in 2023.
Our list is compiled by industry experts from Industry Talk and Cryptonews, so you can expect professional recommendations and valuable insights for your cryptocurrency investments.
Stay updated and discover the potential of these digital assets.
Find The Best Price to Buy/Sell Cryptocurrency
Disclaimer: Cryptocurrency projects endorsed in this article are not the financial advice of the publishing author or publication – cryptocurrencies are highly volatile investments with considerable risk, always do your own research.
