The largest cryptocurrency is trading below the high of $86,000 and above the support of $82,000.
BTC price long-term prediction: bullish
The price of Bitcoin (BTC) has been trapped in a range since April 12. The price movement has been limited within this range for the past five days.
On the upside, Bitcoin will rise to a high of $95,000 if the price breaks above the 50-day SMA. The positive trend will continue until it reaches the high of $100,000.
On the downside, Bitcoin will fall to the lows of $80,000 and $78,000 if the bears break below the 21-day SMA support.
In the meantime, Bitcoin has remained within a narrow fluctuation range. At the time of writing, Bitcoin is worth $84,106
Analysis of the price indicators
BTC price has remained trapped below the 50-day SMA and above the 21-day SMA for the past five days. The bulls and bears are battling over the price to see who comes out on top. Price is currently being driven to the 21-day SMA support by the bears. If the bears succeed, the Bitcoin price will fall.
Technical indicators
Key supply zones: $108,000, $109,000, $110,000
Key demand zones: $90,000, $80,000, $70,000
What’s the next move for BTC?
Bitcoin remains within a small range between the moving average lines. Bitcoin is now trading in the middle of the price range above the $83,000 support.
Bitcoin’s price has remained stable within a small range. The doji candlesticks have delayed the price movement. The altcoin will continue to move sideways if it pulls back and stays above the moving average lines.
Disclaimer. This analysis and forecast are the personal opinions of the author. They are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by CoinIdol.com. Readers should do their research before investing in funds.
