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BTC falls below $16,000 support

05/12/2022
07/12/2022
08/12/2022

MetaVentures Bangkok 2022

Bangkok, Thailand
14/12/2022
27/02/2023

ICBM Expo

Dubai, UAE
03/03/2023
Crypto daily report

The current Bitcoin price is $16,156, and the 24-hour trading volume is $31 billion. Bitcoin has fallen by over 2% in the last 24 hours.

CoinMarketCap now ranks first, with a live market cap of $310 billion. It has a total quantity of 21,000,000 BTC coins and a circulating supply of 19,213,406 BTC coins.

1669045842 308 Bitcoin Price Prediction as BTC Falls to 16000 Support –
Bitcoin Price & Tokenomics – Source: coinmarketcap

Bitcoin is gaining immediate technical support near the $15,850 level. The closing of candles above this level indicates the possibility of a bullish reversal. The formation of a tweezer’s bottom pattern above $15,850 indicates the possibility of a bullish reversal.

As a result, increased buying pressure may propel an uptrend until the resistance levels of $16,500 and $17,180 are reached. An additional breakout of the $17,180 level may open up more room for buying until the $18,650 level, which is extended by the 38.2% Fibonacci retracement level.

1669045844 118 Bitcoin Price Prediction as BTC Falls to 16000 Support –

The RSI and MACD indicators remain in the sell zone, and the 50-day moving average is also indicating a sell trend below $16,500. As a result, a bearish breakout below a triple bottom pattern could expose the BTC price to the $14,475 territory.

Today, keep an eye on $15,850 as it is likely to act as a pivot point for Bitcoin.

Compiled by Coinbold

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