Bitcoin (BTCUSD) Price Could Go Higher Soon

Bitcoin (BTCUSD) Price Forecast: September 23
The Bitcoin (BTCUSD) price could go higher soon. After finishing the low dips, the coin price may likely reverse in a bullish direction, and it may soon be prepared for another probable upward surge. The coin price may perhaps retrace at the current support to retest the previous high of $31862.21 and even go higher if buyers can demonstrate their strength and trade hands with sellers at the current support level of $26401.27.

Key Levels:
Resistance Levels: $26000.00, $27000.00, $28000.00
Support Levels: $23000.00, $22000.00, $21000.00

BTC (USD) Long-term Trend: Bearish (Daily Chart)
The Bitcoin market portrays a bearish market trend in its long-term outlook. The price responded to the shift in the market structure and is currently below the moving averages. Thus, the coin could go higher soon if further decline is stopped.

The sustained pressure from the bears at the $26798.98 support level during yesterday’s session has contributed to its bearishness in its recent low.

Today, the bears however made a drop to a $26401.27 support level below the moving averages as the daily chart opens, resulting in an intraday loss. Should buyers increase their momentum and exchange hands with the sell traders at the mentioned support, the price of BTCUSD could turn around to challenge the $31862.21 neckline.

Notably, the market value of the largest cryptocurrency now approaches the oversold region, which means that the selling momentum will end soon. Thus, the price could go higher from there to a $32000.00 upper resistance value in the days to come in its higher time perspective.

BTC (USD) Medium-term Trend: Bearish (4H Chart)
The currency pair’s orientation trades in a bearish market in its medium-term outlook. The price bar is seen below the moving averages. Meanwhile, buyers could go higher from support soon as the Bitcoin market now trades in the oversold region.

Pressure from the bears to a $26798.98 low value in the previous action has dropped the crypto price below the supply levels in its recent low.

The market price of BTCUSD may resume its upside moves soon as price reversal at the $26401.27 low level is imminent. Based on the outlook, should the bulls push higher and close above the $28184.89 high mark, a bullish breakout confirmation will reflect the improved market sentiment.

Similarly, the BTCUSD price is likely going to reverse and face the upsides as the market is now trading around the 5% range of the daily stochastic; it means that the selling pressure will end soon. This will compel the buy traders to resume an uptrend and may likely break up the $28184.89 supply level soon in its medium-term time frame.

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