Bitcoin (BTC) Price Prediction – July 16
Today, BTC/USD bears are trying to push their agenda and threatening $9,000.
BTC/USD Long-term Trend: Bearish (Daily Chart)
Resistance Levels: $9,500, $9,700, $9,900
Support Levels: $8,700, $8,500, $8,300
BTC/USD has been drifting lower since the start of the day amid global sell-off on the cryptocurrency market. Currently, the king coin is now moving within a short-term bearish trend because the volatility is high. BTC/USD may be vulnerable to further losses as the RSI (14) on the intraday chart points downward.
However, from the longer-term point of view, BTC/USD is still in the range as long as the lower boundary of the recent consolidation channel $9,000 remains unbroken. Bitcoin is now way below the 9-day and 21-day moving averages but the bulls still have time to close above it in the next few hours. Meanwhile, the $9,000 level … Read more