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BTC Could Demolish $19,000 Support as TAMA Corrects Upward

3 years ago CryptoExpert
BTC Bears Could Demolish $19,000 Support as Tamadoge Corrects Upward

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The Bitcoin price prediction shows that BTC is trading below the moving averages as the coin touches $19,639 support.

Bitcoin Prediction Statistics Data:

Bitcoin price now – $19,675
Bitcoin market cap – $378.1 billion
Bitcoin circulating supply – 19.1 million
Bitcoin total supply – 19.1 million
Bitcoin Coinmarketcap ranking – #1

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

Key levels:

Resistance Levels: $23,000, $25,000 $27,000

Support Levels: $17,000, $15,000, $13,000

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BTC/USD continues to face a setback that could be a permanent one. The king coin is likely to have an additional bearish run as a price rally may help the coin to head to the south. Currently, Bitcoin (BTC) is trading around the $19,675 level after a free fall from $20,336 during the European.

BTC Stays Below the Moving Averages as TAMA Increases

Looking at the daily chart, the Bitcoin price is currently hovering below the 9-day and 21-day moving averages. Therefore, if the price should slump below the support level of $19,500, the king coin is likely to embark on a downward movement. However, the further bearish movement could locate the supports at $17,000, $15,000, and $13,000, making room for BTC to fall even further.

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Moreover, the technical indicator Relative Strength Index (14) is likely to cross below the 40-level as the trading volume could be in support of the bears. Nevertheless, if bulls decide to move the price above the moving averages, BTC/USD may head towards the resistance levels of $23,000, $25,000, and $27,000.

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

On the 4-Hour chart, the Bitcoin price remains below the 9-day and 21-day moving averages and the immediate support is likely to come at the $19,000 level. The price may likely fall below this level if the bears continue to dominate the market.

BTCUSD – 4-Hour Chart

However, a further bearish movement could hit the critical support at the $18,500 level and below while the resistance is located above the 21-day moving average at $21,500 and above. Meanwhile, the Bitcoin price is currently moving on the negative side as the technical indicator Relative Strength Index (14) could cross into the oversold region.

The Tamadoge team said that the move aims to make investing in TAMA easy and safe. These users can be confident in transferring fiat into crypto, hence the need for Tamadoge to secure this deal with Transak. One of the strongest pillars of any project in the web 3.0 & crypto sector is having a solid team to see the project succeed. The TAMA website has revealed Thomas Seabrook as the Tamadoge lead developer and Carl Dawkins as the head of growth. The other members of the Tamadoge team include Neil Palethorpe and Siphamandla Mjoli, who have joined as the Senior Interaction Designer and the Senior Blockchain Developer, respectively.

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