BTC/USD movement on the daily chart is reflecting a tremendous improvement. However, if the bulls keep and maintain the uptrend, then the expectation of recovery could turn out to be true. The Bitcoin price is seen trading at $19,488 after soaring to $19,873 and may continue to head downwards if the bears step back into the market.

Where is BTC Price Going Next?
The market is deciding around $19,488 around the upper boundary of the channel, where the buyers are anticipating a clear breakout. However, a strong bullish spike above the upper boundary of the channel may likely take the price to the resistance levels of $21,000, $21,200, and $21,400.

Moreover, if the market decides to follow the downward trend, Bitcoin’s price may likely drop to the nearest support at $18,200, and should this support fails to contain sell-off, traders may see another drop to the critical supports at $17,000, $16,800, and $16,600.

Meanwhile, the technical indicator RSI (14) reveals that the coin may still be in the bullish movement mode in as much as the signal line is likely to move into the overbought territory. Turning downward may result in immediate supports.

Reference by: Azeez Mustapha