• Bitcoin price prediction shows that BTC remains at risk of more downsides before it could start a fresh increase to $25,000.
• The king coin is likely to face the resistance level of $25,000 with support near $23,500 on the daily chart of the BTC/USD pair.
• If the Bitcoin price crosses above the 9-day and 21-day moving averages in the short term, bullish influence could spike.

Bitcoin Price Prediction for Today

The Bitcoin price prediction shows that BTC remains at risk of more downsides before it could start a fresh increase to $25,000. The bears may continue to find some support levels below moving averages on the road to the lower boundary of the channel.

BTC Price Resumes Downward Movement

The Bitcoin price touches the daily low at $23,012, which is below the opening price of $23,329. The king coin is likely to face the resistance level of $25,000 by looking forward to reclaiming the resistance level of $24,000.

Technical Indicator RSI

Meanwhile, technical indicator Relative Strength Index (14) is moving below 70-level indicating a bearish movement. Therefore if Bitcoin price faces upper boundary of channel it could hit resistance levels at $27K-$29K but any movement below 21-day moving average could hit supports at 20K-$18K.

4H Chart Analysis

According to 4-hour chart Bitcoin price heads downwards as technical indicator Relative Strength Index (14) slides below 40-level. On upside if Bitcoin crosses above 9 & 21 day MA in short term bullish influence could spike and gains massively will be accrued .

Conclusion

In conclusion , although there are risks associated with current decline , in long run if bulls can break through key resistances then there will be significant growth for bitcoin .