Bitcoin Price Prediction Today: BTC May Reach $20,000 on July 27, a Drop May Occur

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Bitcoin price prediction shows that BTC may start a downside correction after hitting a daily high of $21,450
Bitcoin Forecast Statistics:
Current Bitcoin Price – $21,309
Bitcoin Market Cap – $406.5 billion
Bitcoin Circulating Supply – 19.1 Million
Total Bitcoin Supply – 19.1 Million
Bitcoin Coinmarketcap Ranking – 1st
BTC/USD long-term trend: Bearish (Daily chart)
Key Levels:
Resistance levels: $30,000, $32,000, $34,000
Support levels: $15,000, $13,000, $11,000
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BTC/USD is moving sideways near the $21,309 resistance level as buying pressure weakens. The market price hovered below the 9-day and 21-day moving averages, forming a low near $21,000 before stabilizing. Currently, BTC/USD has not yet broken through the 9-day moving average, but has risen 0.23%
Bitcoin Price Prediction: Where Bitcoin (BTC) is headed in the future
Bitcoin price prediction is currently range-bound. A decisive break below the $21,000 support level could intensify the selling pressure. Therefore, if the bears drive the market price downwards, the consolidation could turn into a bear run. The current sideways movement might continue for the next few days, but the next hurdle could appear at $25,000, but this will not stop the price from moving higher.
However, the technical indicator Relative Strength Index (14) is below the 50 level, suggesting a possible reversal, but only if the $24,000 resistance level is recaptured. Sustained trading above this level could technically push the currency towards the $30,000, $32,000 and $34,000 resistance levels, while support levels are located at $15,000, $13,000 and $11,000.
BTC/USD medium-term trend: range-bound (4-hour chart)
Bitcoin (BTC) has not fallen below $21,000 since the start of today, but the currency is in a rebound cycle. The Bitcoin price is hovering within the 9-day and 21-day moving averages, and it may take time to trade above $23,000. Currently, the Bitcoin price is moving around $21,290

BTCUSD – 4-hour chart
However, if the bulls activate the market, the price may test the resistance above $23,500. In other words, if the bears pull it lower, the support below $19,500 may be visited as the Relative Strength Index (14) moves above the 40 level, indicating a bearish signal.
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