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- Bitcoin price prediction suggests that the cryptocurrency giant is trying to sustain above $15000 as it is fighting for its existence these days.
- BTC has dropped below 20, 50, 100 and 200-days Daily Moving Average.
- Bitcoin price currently holds the market dominance of 38% as it has been continuously falling since the start of 2022.
Bitcoin price prediction suggests the downtrend momentum of the traditional cryptocurrency over the daily price chart. BTC crypto struggled a lot and tried to sustain above $20000 but ended up consolidating at the current level. BTC price must accumulate buyers to maintain itself above $15000 to hold the confidence of cryptocurrency investors. However, the ongoing war between Russia and Ukraine is impacting the global index of stock and crypto market negatively. BTC must prove itself as some do believe in it that it will definitely surge above $20000 by the end of 2022 and it may register its recovery by the start of 2023. However, the waves are heated these days as the ongoing bear market crisis is affecting things negatively.
Bitcoin price is currently approximated at $17036 and has lost 3.75% of its market capitalization in the last 24-hour period. Trading volume has decreased by 9.82% during the intraday trading session. This demonstrates that sellers are trying for a pullback and it may lead to a panic selling.
Bitcoin price prediction showcases that the cryptocurrency giant has been facing problems in maintaining its dignity as a cryptocurrency market dominator. Meanwhile, volume change can be seen below average and needs to grow for the traditional cryptocurrency to save itself from falling towards the lower lows. For the time being, BTC has dropped below 20, 50, 100 and 200-days Daily Moving Average.
Liquidation Rates of Bitcoin Price
Liquidation rate simplifies that the number of buyers or sellers got liquidated during the trade of the given token. We can say it is the number of traders who lost everything while trading for BTC and being on either side short or long. Now according to the data from coinglass, a total of 33.48 Million traders got liquidated while buying or selling BTC in the period of 24-hours. Whereas, 22.10 Million got liquidated in the last 12-hours, from which 21.31 Million were liquidated in the last 4-hours.
Technical Indicators Prompts Something Interesting for BTC Price:
Technical indicators show the downtrend momentum of BTC crypto. Relative Strength Index showcases the declining momentum of BTC. RSI is at 46 and is below neutrality moving towards the oversold territory. MACD exhibits the downtrend momentum of BTC. The MACD line is about to cross the signal line downwards, registering a negative crossover.
Conclusion
Bitcoin price prediction suggests the downtrend momentum of the traditional cryptocurrency over the daily price chart. BTC crypto struggled a lot and tried to sustain above $20000 but ended up consolidating at the current level. BTC price must accumulate buyers to maintain itself above $15000 to hold the confidence of cryptocurrency investors. Meanwhile, volume change can be seen below average and needs to grow for the traditional cryptocurrency to save itself from falling towards the lower lows. A total of 33.48 Million traders got liquidated while buying or selling BTC in the period of 24-hours. The MACD line is about to cross the signal line downwards, registering a negative crossover.
Technical Levels
Support Levels: $16800 and $15500
Resistance Levels: $18400 and $20000
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
