Bitcoin bears may break through the $23,000 support level, Tamadoge corrects upward

Bitcoin price prediction shows that BTC is bearishly trading below the moving averages as the currency hits the $23,180 support level.
Bitcoin Forecast Statistics:
Bitcoin current price – $23,375
Bitcoin Market Cap – $445.5 billion
Bitcoin Circulating Supply – 19.1 Million
Total Bitcoin Supply – 19.1 Million
Bitcoin Coinmarketcap Ranking – #1
BTC/USD long-term trend: range (daily chart)
Key Levels:
Resistance Levels: $30,000, $32,000, $34,000
Support Levels: $18,000, $16,000, $14,000
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BTC/USD is still facing a potentially permanent setback. Currently, Bitcoin (BTC) is trading around $23,375, having previously free-fallen from the $24,448 level during the European session.
Bitcoin (BTC) May Be Stalling Below Moving Averages While Tamadoge (TAMA) Is Gaining Ground
The Bitcoin price is currently plunging below the 9-day and 21-day moving averages. If the price breaks below the $23,000 support, Bitcoin could face a downtrend. However, further bearish movement could target support at $18,000, $16,000, and $14,000, leaving room for Bitcoin to fall further.
However, the technical indicator relative strength index (14) is likely to fall below the 50 level and the trading volume may support the bears. Moreover, if the bulls decide to move the price up to the upper boundary of the channel, BTC/USD may move towards the $30,000, $32,000 and $34,000 resistance levels.
BTC/USD Medium-term Trend: Range-bound (4-hour chart)
On the 4-hour chart, Bitcoin price remains below the 9-day and 21-day moving averages, with the upcoming support likely to be at the $23,000 level. If the bears continue to dominate the market, the price could fall further below this level.
However, further bearish movement may hit below the critical support level of $22,500, while resistance is located above the moving average at $24,500. Meanwhile, Bitcoin price is currently moving in a positive direction, and the technical indicator relative strength index (14) may cross the 40 level.

BTCUSD – 4-hour chart
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