- Bitcoin price closed the previous day’s trade at $0.0596 with a market capitalization of $364.32 billion & a circulating supply of 19.15 million
- The BTC price was rejected again from the levels around $19,500 and upon reaching the support at $18,441, a major bearish movement may drag the price towards the yearly lows.
Bitcoin (BTC) PRICE & Technical Analysis
|BTC Price Prediction for Today||$18,656|
|14 Day RSI||36.23|
|Fear and Greed Index||20(Extreme Fear)|
Bitcoin Technical Analysis for the Week
After the gigantic drop during the mid of September, the Bitcoin (BTC) price has been unable to manage the trembled conditions. Hence continues to trade with a huge bearish influence as they continue to restrict the price below $19,500. Additionally, the bulls now appear to have got exhausted to some extent and hence the star crypto may record a bearish close for the week.
The RSI in the short term is extremely bearish & heading towards the south while the MACD indicates the fading of the bullish pressure. Therefore, the BTC price may soon enter a significant bearish trend as investors appear to have found a new destination.
The Bitcoin price is trading above $19,000 at the moment, while an extreme bearish action may compel the price to drop below $18,500 by the end of the week.
Additional Read: Bitcoin Technical Analysis
Bitcoin Technical Analysis at a Glance
|Short-Term||The bulls may remain off-shore for a while and hence the BTC price may face a notable price drain|
|Mid-Term||Bitcoin is trying hard to rise above the bearish captivity but the slashed buying volume is not offering the required momentum|
|Long-Term||Bears remain undisturbed but the bulls also maintain a significant distance compelling the price to trade sideway|
Will BTC Price Reach $18,500 Today?
The Bitcoin price registered a significant bullish close yesterday and it was assumed that the token may carry forward the same momentum. However, the bear again restricted the price to $19,500 for the second consecutive time in the week. Therefore, intensifying the possibilities of retesting the lower support by close to $18,500.
After trading above $19,000 since the beginning of the day’s trade, the BTC price has now slid below these levels. Hence pointing out towards the revival of a bearish trend intending to drag the price lower. If the BTC price drops close to $18,500 as predicted, it may accomplish a huge bearish formation that may drag the price lower ahead.
Will BTC Price Reach $20,000 by the End of September?
Bitcoin price as mentioned above continues to hover within a firm bearish trap where-in bullish actions are constantly failing to secure the rally. If Bitcoin triggers a run-up it could ignite a decent recovery beyond $19,500. But without bullish support, the rejections may continue to prevail.
While the monthly close is around the corner, the asset tends to become volatile. In such a scenario, BTC price may certainly attempt to regain the levels close to $20,000 but may certainly not rise above $19,500. Hence, the Bitcoin price prediction for the month could be around $18,300 to $18,800.
Additional Read: Ethereum Price Prediction
Bitcoin Price Prediction: Price Trend Comparison with Ethereum Classic(ETC)
- Bitcoin & Ethereum Classic are among the popular blockchains working on the Proof-of-Work mechanism after the Ethereum Merge
- ETC price had been heavily impacted by the Merge initially, but dropped heavily at the time of the event and continue to trade within the consolidated region
- ETC/USDT price rose high to reach +22.76% before the merge but dropped heavily and currently trading at -17.64%
- While BTC/USDT price reached the highs at +4.93% and quickly dropped to -13.04% and currently trading at -10.76%
Additional Read: Ethereum Classic Price Prediction
Bitcoin Price Prediction: 2022, 2023, 2024, 2025
Bitcoin price after a monstrous rally in 2021, appears to have highly exhausted this year and hence may continue to consolidate until the yearly-close. While a couple of bullish pushes uplifted the price but they could only form a lower high which then form a low. In the coming years, the bulls are expected to gain strength after prolonged accumulation and form new highs very soon.
|Year||BTC Price Forecast|
|2022||$23,800 to $25,400|
|2023||$26,900 to $35,700|
|2024||$48,000 to $60,000|
|2025||$68,000 to $75,000|
Bitcoin News Today
- Bitcoin mining difficulty reaches 32.05 trillion to set a new all-time high
JUST IN: #Bitcoin mining difficulty hits new all-time high!
Miners now need to perform over 32 TRILLION hashes to find a new block 🤯
— Bitcoin Magazine (@BitcoinMagazine) September 13, 2022
- On of the popular investment companies, Fidelity investments plan to offer Bitcoin trading to its 34 million clients
- A recent SEC filing by Microstratergy reveals the companies plan to sell $500 million in stock to buy Bitcoin.