Bitcoin Price Prediction: BTC Attempts Break Above $17,000

• Bitcoin price prediction shows that BTC is still attempting an upside break above $17,000.
• Bitcoin could gain bullish momentum if there is a daily close above the $17,000 and $17,200 resistance levels.
• Bitcoin price may likely slide below the 9-day and 21-day moving averages and possibly break below $16,500.

The Bitcoin price prediction shows that the king coin is still attempting an upside break above $17,000 as it touches the $16,967 level. Despite the selling pressure seen around the $16,829 level which is stopping it from making any major gains, traders are not surprised as bears are trying to defend against a break above the 9-day and 21-day moving averages. As of now, the Bitcoin price may continue to face a prolonged sideways movement or drop below the current market value unless bulls keep the price above the resistance barrier.

Looking at the daily chart, Bitcoin may revisit the downtrends and slide below the 9-day and 21-day moving averages. If this is the case, then the price of Bitcoin may potentially break below the $16,500 mark. On the other hand, traders should keep an eye on the key support levels at $14,000, $12,000, and $10,000 in case there is a further retracement.

To gain bullish momentum, Bitcoin needs to see a daily close above the $17,000 and $17,200 resistance levels. This could result in a surge in the price of Bitcoin, leading to a bullish breakout. If this happens, then Bitcoin could test the $20,000 mark again and possibly even break it.

In conclusion, the Bitcoin price prediction shows that BTC is still fighting near the $17,000 level, as it attempts an upside break. The $17,000 and $17,200 resistance levels need to be broken in order for the bulls to gain momentum. However, if the bears’ defense is too strong, then Bitcoin may revisit the downtrends and slide below the 9-day and 21-day moving averages, possibly breaking below the $16,500 mark. In any case, traders should keep an eye on the key support levels at $14,000, $12,000, and $10,000 in case of a further retracement.

About