BTC Remains Below $20,000; TAMA to the Moon!

Original author: Azeez Mustapha

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The Bitcoin price sees a 0.51% decline after trading near the $20,000 resistance level, the cryptocurrency heads lower.

Bitcoin Prediction Statistics Data:

Bitcoin price now – $19,733
Bitcoin market cap – $378 billion
Bitcoin circulating supply – 19.1 million
Bitcoin total supply – 19.1 million
Bitcoin Coinmarketcap ranking – #1

BTC/USD Long-term Trend: Ranging (Daily Chart)

Key levels:

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

Support Levels: $17,000, $15,000, $13,000

BTCUSD – Daily Chart

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BTC/USD loses its momentum after trading near the resistance level of $20,000. As of writing, the king coin is down 0.51% on the day at $19,733 below the 9-day and 21-day moving averages. Meanwhile, Bitcoin may struggle to close above $20,000 and if it does, it should be free to rise well above $21,000 if it moves in the next positive direction.

Bitcoin (BTC) Range-bounds but Tamadoge More Preferable

After a slightly positive move above $19,833, the Bitcoin price is sliding below the 9-day and 21-day moving averages. Over the past few days, the king coin has been struggling to break towards the upper boundary of the channel. However, in today’s session, the coin attempted to push higher, but the sellers step in and begin to bring the coin lower to touch the daily low of $19,588.

Moreover, if the coin moves lower, the $19,500 may serve as the nearest support level, which may likely make room for the coin to fall further to hit the support levels at $17,000, $15,000, and $13,000. The Relative Strength Index (14) remains below the 40-level indicating a sideways movement. On the contrary, BTC/USD may likely see resistance levels of $23,000, $25,000, and $27,000 if it finds its way above the 21-day moving average.

BTC/USD Medium-term Trend: Bearish (4H Chart)

On the 4-Hour chart, the BTC price hovers around $19,732 and could take time to cross above the 9-day and 21-day moving averages. More so, if the bulls gather enough strength, the upward movement may be able to near the resistance levels of $21,000 and above.

On the downside, immediate support could be located around the $19,500 level while the critical support is at $19,000 and below. Therefore, the Bitcoin price may likely fall towards the lower boundary of the channel if the bears put more pressure on the market, More so, the Relative Strength Index (14) moves to cross below the 40-level, suggesting a bearish movement.

Tamadoge is combining the fun of Tamagotchi with the play-to-earn mechanics made possible with NFT technology applied to gaming. Earlier this week the project completed the sixth phase on the project in which the coin was priced from 1 USDT to 44 TAMA. The price has since increased, to 1 USDT buying 40 TAMA. There will be nine tranches of token sales in all, with the price increasing at each stage. 711 million tokens have been sold so far out of a total of 1 billion that is available in the presale out of a total supply of 2 billion.

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