Bitcoin Price Prediction: Could BTC/USD Form Decent Support at $22,500?


  • The current Bitcoin price is trading below $23,000 but there is potential to form a decent support at the $22,500 level.
  • If the king coin slides below the 9-day and 21-day moving averages, the first support level could be located at $22,500.
  • A break above the opening price of $23,244 would have set the first digital asset up to reach the nearest resistance at the $23,500 level.

Bitcoin Prediction Statistics

The Bitcoin market is currently trading with a circulating supply of 19.2 million and a total supply of 19.2 million. The BTC/USD pair’s long-term trend is currently ranging on its daily chart. Resistance levels for this pair are set at $27,000, $28,000, and $29,000 respectively while its support levels are located at $19,500, $18,500 and 17,500 respectively.

Will Bitcoin Price Reclaim 23k?

The Bitcoin price has yet to reclaim its previous resistance level of 23k as it continues to range within a channel. If traders can break above its opening price of 23244 then they could gain access to the nearest resistance level which is 23500. However if bearish momentum increases then it could head towards lower boundary of the channel or even beyond that point with supports being found near 22200 or lower.

Bitcoin Price Prediction In 4 Hours Chart

Looking at Bitcoin’s 4 hour chart reveals that bears may slowly start coming back into play as bulls were unable to push prices higher than expected. Moreover should market prices stay above moving averages then any bullish movement seen above upper boundary of channel will see resistances being met near 27000 28000 or 29000 respectively.

In conclusion we can see that bitcoin is currently trading below 23000 but still has potential to form a decent support near 22500 if traders can break above opening price of 23244 then they can access next resistance which stands near 23500 however should bearish momentum increase then 22200 area may come into play in order for bulls to regain control over market again