Bitcoin Price Prediction: BTC Is Trading Above $16,800, Bulls May Gain Momentum

• Bitcoin price prediction shows that BTC is currently trading above the resistance level of $16,800.
• Bears may have the upper hand if the price fails to cross above the 9-day and 21-day moving averages.
• A bullish trend is likely if the market price touches the resistance level of $18,000.

The Bitcoin price prediction for today is that the cryptocurrency is currently trading above the resistance level of $16,800. Bears may be in control of the market if the price fails to move above the 9-day and 21-day moving averages. However, a bullish trend may be seen if the market price touches the resistance level of $18,000.

Bitcoin (BTC) is currently trading at $16,841 after recovering from the daily low of $16,775. The first digital asset is attempting to move above the 9-day and 21-day moving averages but the bears may step back into the market if it fails to do so. If this happens, a bearish breakdown may occur and the Bitcoin price may fall back to the support of $15,000.

Furthermore, the technical indicator Relative Strength Index (14) needs to move above the 50-level in order to confirm a bullish trend. If the indicator crosses above the 50-level, the Bitcoin price may continue to rise and reach the resistance level of $18,000. On the other hand, if the indicator falls back below the 50-level, the bears may take control of the market and the price may drop back to the support of $15,000.

Overall, the Bitcoin price prediction for today is that the cryptocurrency is currently trading above the resistance level of $16,800. Bears may have the upper hand if the price fails to cross above the 9-day and 21-day moving averages. A bullish trend is likely if the market price touches the resistance level of $18,000.

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