Bitcoin Price Prediction for Today, November 14: BTC/USD Rejects $18k Level

The Bitcoin price prediction indicates bearish movement as the coin fails to cross above the 9-day and 21-day moving averages.

Bitcoin Prediction Statistics Data:

Bitcoin price now – $16,541
Bitcoin market cap – $318.7 billion
Bitcoin circulating supply – 19.2 million
Bitcoin total supply – 19.2 million
Bitcoin Coinmarketcap ranking – #1

Bitcoin Price Long-term Trend: Bearish (Daily Chart)

Key levels:

Resistance Levels: $20,000, $21,000, $22,000

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

BTC/USD is hovering at $16,541.81 but the king coin has not been able to cross above the 9-day and 21-day moving averages. At the moment, the Bitcoin price may continue to follow the bearish movement, but the daily chart shows that the formation of a bullish movement is likely to play out.

Bitcoin Price Prediction: BTC Price May Consolidates to the Upside

As the Bitcoin price moves toward the east, it is likely to rise and head toward the 9-day and 21-day moving averages. The technical indicator Relative Strength Index (14) keeps moving below the 40-level and this could mean that the king coin may be ready for the upside.

Looking at it from above, recovery may set in bit by bit as the bulls may bring the king coin above the resistance level of $17,000. However, a sustainable movement towards the north may cross above the moving averages, which could allow for an extended recovery in the direction of the potential resistance levels at $20,000, $21,000, and $22,000. On the downside, any bearish movement may cause the Bitcoin price to hit the supports at $14,000, $13,000, and $12,000.

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

Looking at the 4-hour chart, the Bitcoin price is likely to cross above the 9-day and 21-day moving averages. BTC/USD may head to the upside as the market is trying to recover from the bearish momentum. However, if the price faces the upside, it could locate the resistance level of $20,000 and above.

Moreover, if the bearish movement steps back, the support level of $16,000 may not be able to hold the selling pressure. Therefore, BTC/USD is likely to fall to $14,000 and below if the price crosses the lower boundary of the channel. Nevertheless, the technical indicator Relative Strength Index (14) is likely to slide below the 40-level to confirm the bearish movement.

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