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BTC Fails to Push Higher; TAMA, a Real Game Changer

BTC Fails to Push Higher; TAMA, a Real Game Changer

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At the time of writing, the Bitcoin price forecast is down more than 1.29% in 24 hours, trading at around $19,991.

Bitcoin Prediction Stats:

  • Bitcoin price now – $19,759
  • Bitcoin market cap – $377 billion
  • Bitcoin circulating supply – 19.1 million
  • Total supply of Bitcoin – 19.1 million
  • Bitcoin Coinmarketcap Ranking – #1

BTC/USD Long Term Trend: Bearish (Daily Chart)

Key levels:

Resistance levels: $23,000, $25,000, $27,000

Support levels: $17,500, $15,500, $13,500

BTCUSD – Daily Chart

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The daily chart reveals that BTC/USD failed to break above the 9-day moving average, as the king coin starts the day off by falling towards the $19,500 support level and is likely to break above the lower limit of the channel. However, the first support level is $19,000. Below that, the other subsidies are $17,500, $15,500 and $13,500.

Bitcoin (BTC) May Fall as Buyers Favor Tamadoge (TAMA)

As seen on the daily chart, Bitcoin price is unable to hold above the 9-day moving average as it looks to have another few days of negative price decline below $20,000. Meanwhile, a break above the daily high of 20,053 would have pushed the king coin to the nearest resistance at the $21,000 level. But traders can see that Bitcoin will not break as the technical indicator Relative Strength Index (14) heads south.

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Bitcoin price could not go higher as it is falling towards the lower limit of the channel. Moreover, if the technical indicator goes down, the market price may end on the negative side. Nevertheless, any upside move above the 9-day and 21-day moving averages could hit the resistance levels at $23,000, $25,000 and $27,000.

BTC/USD Medium Term Trend: Fluctuating (4H Chart)

The 4-hour chart reveals that buyers may take a while to re-enter the market if the price remains below the 9-day and 21-day moving averages. Therefore, if the bulls step back and push the coin above the moving average, Bitcoin price could hit the $20,500 resistance level and above.

BTCUSD – 4 Hour Chart

However, if sellers bring the current market cap below the $19,500 support level, a breach of this level could still allow the coin to support at or below $19,000. Currently, the technical indicator Relative Strength Index (14) is likely to cross the 40 level and give the market more bearish signals.

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