Bitcoin Price Prediction for Today, July 1: BTC Loses Support Below $19,000



The Bitcoin price prediction shows that BTC is falling below the moving averages as it trades at the $19,287level.

Bitcoin Prediction Statistics Data:

  • Bitcoin price now – $19,287
  • Bitcoin market cap – $638.0 billion
  • Bitcoin circulating supply – 19.0 million
  • Bitcoin total supply – 19.0 million
  • Bitcoin Coinmarketcap ranking – #1

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

Key levels:

Resistance Levels: $25,000, $27,000, $29,000

Support Levels: $15,000, $13,000, $11,000

The daily chart reveals that BTC/USD will likely claim more support as the king coin moves within the descending channel with the current consolidation pattern. More so, as the coin fails to cross above the 9-day and 21-day moving averages, BTC/USD may likely see a sharp drop below the lower boundary of the channel. Similarly, the first level of support may be located at $18,000. Beneath this, other supports lie at $15,000, $13,000, and $11,000.

Bitcoin Price Prediction: Bitcoin (BTC) May Not Head to the Upside Now

As the daily chart reveals, the Bitcoin price has failed to break above the resistance level at $20,000, the king coin may set up another few days of negative price declines beneath $19,000. A break above the previous level would have set Bitcoin up to retest the $21,000 level. Meanwhile, the technical indicator Relative Strength Index (14) may move sideways.

Moreover, traders can see that the Bitcoin price remains below the 9-day moving average, sliding towards the lower boundary of the channel may gain more downtrends. Today, the Bitcoin price touches $20,879 but now dropping beneath the support level of $19,500. However, it does look that bears may end up closing below this support. More so, if the coin moves toward the upside, resistance levels could be located at $25,000, $27,000, and $29,000.

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

The 4-hour chart shows that the Bitcoin bulls are likely to step back into the market by pushing the BTC price to cross above the 9-day and 21-day moving averages. Although the Bitcoin price has not yet slipped below $19,000 in the last few hours, it’s still in the loop of making a bounce back.

BTCUSD – 4-Hour Chart

At the moment, BTC/USD is currently moving below the moving averages. The upward movement may likely push the price nearest resistance at $21,500 and above while the immediate support lies at $17,500 and below. The technical indicator Relative Strength Index (14) is moving to cross above the 40-level, suggesting that the market may head to the north.

eToro – Our Recommended Bitcoin Platform

Our Rating

eToro exchange
  • Regulated by the FCA, ASIC and CySEC
  • Buy Bitcoin with Bank transfer, Credit card, Neteller, Paypal, Skrill
  • Free Demo Account, Social Trading Community – 20 Million Users
  • Free Bitcoin Wallet – Unlosable Private Key
  • Copytrade Winning Bitcoin Traders – 83.7% Average Yearly Profit

eToro exchange

68% of retail investor accounts lose money when trading CFDs with this provider.

Read more:

Subscribe To The Latest Crypto News

You have successfully subscribed to the newsletter

There was an error while trying to send your request. Please try again.

World Wide Crypto will use the information you provide on this form to be in touch with you and to provide updates and marketing.