Today's Bitcoin Price Prediction: BTC Is Supported at $40,000.

Predicted Bitcoin prices show the cryptocurrency falling towards the $40,005 low.

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

Key levels:

Resistance Levels: $45,000, $47,000, $49,000

Support Levels: $36,000, $34,000, $32,000

Today, BTC/USD lost 0.45% of its value as the cryptocurrency fell below the 9-day moving average and hit the daily low of $40,005. In fact, the daily chart shows that $40,000 is a very important area because it is expected to be a strong support for the coin.

bitcoin chart

If the price of Bitcoin drops below $40k, would it still be worth it?

The Bitcoin price starts to fall below the 9-day and 21-day moving averages at the trend line. A break below the lower end of the channel could cause the price of Bitcoin to make a new low. However, a drop below the lower boundary of the channel could be bad for Bitcoin because it could lead the coin to hit the supports at $36,000, $34,000, and $32,000, which could hurt the coin.

Bitcoin's first level of resistance could be $43,000 if the price breaks above the 9-day moving average. Above this, there should be more resistance at $44,000. This could lead to possible resistance levels at $45,000, $47,000, and $49,000. At the moment, the Relative Strength Index (14), which shows how strong a stock is, is likely to fall below the 40 level. This means that more bearish signals could come into play.

BTC/medium-term USD's trend is going down (4H Chart)

bitcoin price

When you look at the 4-hour chart, you can see the price of Bitcoin is at $40,539, and it's about to cross above the upper boundary of the channel. Even though the 9-day and 21-day moving averages are both above the market price, the coin may hit resistance at $42,000 and above.

The 9-day moving average now looks like it's ready to go up, as it crosses above the 21-day moving average, which could mean the cryptocurrency is ready to go up. There are a lot of chances that the Relative Strength Index (14) will go above 50. If it doesn't, the king coin might find a support level at $39,000 and below.

** Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of USA GAG nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

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