Both the Bitcoin (BTC) and Ethereum (ETH) cryptocurrencies have been very stable, ranging between gains and losses. It’s still unclear at this point whether the weekend will see a substantial price change. In the past, the BTC/USD exchange rates fluctuated erratically between a small range of $22,000 and $22,500.
Today’s Bitcoin Price
| DATE | BTC | USD |
|---|---|---|
| Today | 01 | $ 22,319.40 |
Bitcoin Price Prediction
Bitcoin is presently trading at $22,396, with a $18 billion 24-hour trading volume. The symmetrical triangular formation is predicted to be broken at the $23,250 level by technical analysis of the BTC/USD pair. If this happens, a breakout might push the price of BTC down to the $22,046 support range.
As an alternative, if the price slips below this level of support, BTC might go as low as $21,450.
When a bearish engulfing candle appears, there is a strong bias in favor of selling. The potential for a bullish bounce-off with a goal of $22,800 or higher, towards the $23,750 level, exists if the candles close above this level, though.
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