Bitcoin Price Prediction for Today, November 21: BTC/USD Slips Below $16,000

Blockchain

On Nov 21, 2022

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The Bitcoin price prediction shows that BTC may be on another bearish run to touch the support level of $15,000.

Bitcoin Prediction Statistics Data:

Bitcoin price now – $15,956
Bitcoin market cap – $301.6 billion
Bitcoin circulating supply – 19.2 million
Bitcoin total supply – 19.2 million
Bitcoin Coinmarketcap ranking – #1

BTC/USD Long-term Trend: Bearish (Daily Chart)

Key levels:

Resistance Levels: $19,000, $20,000, $21,000

Support Levels: $14,000, $13,000, $12,000

In the early hours of today, BTC/USD bounced back above $16,000 after sliding below this level a few days ago. As the trend continues above $16,000, it starts to look like the king coin is finally on a recovery path, but it is not. Meanwhile, the recovery only shows a temporary stoppage of the ongoing bleeding as the momentum continues to fall across the market.

Bitcoin Price Prediction: Can Bitcoin Price Touch $15k Low?

According to the daily chart, the Bitcoin price may touch the low of $15,000 in the next negative movement. Meanwhile, if the price slump to the downside, the $15,000 mark could be a critical zone to keep an eye on as crossing below the lower boundary of the channel could take the price to the supports at $14,000, $13,000, and $12,000, making room for BTC to fall even further.

Additionally, the technical indicator Relative Strength Index (14) for the signal line nosedives below the 350-level as trading volume confirms the bearish movement. Therefore, if the king coin decides to move the price above the 9-day and 21-day moving averages; Bitcoin price may see resistance levels at $19,000, $20,000, and $21,000.

BTC/USD Medium-term Trend: Ranging (4H Chart)

According to the 4-hour chart, the Bitcoin price remains below the 9-day and 21-day moving averages to touch the low of $15,888. After this sudden fall, the coin started picking again to where it’s trading currently at $15,974. Therefore, should the market price drop below the lower boundary of the channel; it could reach the nearest support at $14,000 and below.

BTCUSD – 4-Hour Chart

Moreover, if the bulls push the coin above the channel, BTC/USD could hit the resistance at $17,000 before heading to the previous resistance level of $18,000 and above. Meanwhile, the market is likely to follow a bearish trend as the technical indicator Relative Strength Index (14) moves to cross into the oversold region.

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