BTC (USD) Price Forecast: September 18
Amidst the recent crash in the cryptocurrency market, the BTCUSD pair is recovering as it regains upward stability at an $117,000 current high price and remains strong above the supply trend level. However, the crypto has the potential to rise further under the current trend. If the bulls’ pressure breaks through the resistance level of $123,231, the largest cryptocurrency price may increase further to a $123,740 high trend line, which would indeed be a turnaround for coin holders and the entire crypto market.
Key Levels:
Resistance Levels: $117,000, $118,000, $119,000
Support Levels: $98,000, $97,000, $96,000
BTC (USD) Long-term Trend: Bullish (Daily Chart)
The largest cryptocurrency is gaining traction as the bulls’ pressure on the coin market has made it regain its upward stability and remains strong above the supply level on the higher time frames.
Today, the Bitcoin market appears promising as the bullish pattern signals a rally to $117,000 above the resistance levels amid soaring network activity, resulting in intraday gains for coin investors.
Hence, staying above the resistance trend lines indicates a strong possibility for a bullish correction and upward stability.
Additionally, the BTCUSD pair, however, shows the continuation of bullish sentiment by pointing upward on the daily signal.
As a result, the next bulls’ target could be the $125,000 upper high mark, as the coin maintains its upward stability in its higher time forecast.
BTC (USD) Medium-term Trend: Bullish (4H Chart)
The price of BTCUSD is displaying its upward stability above the EMA-50, approaching the overhead resistance on the medium-term outlook, showing that buyers are currently gaining more strength in the market.
An additional buying pressure pushed the price of Bitcoin above the critical level from $116,866.14 to the $117,000 resistance level above the EMA-50. This, however, gives buy traders the tendency to further ladder up the trend.
Hence, if the bullish rally persists, the bullish correction phase may extend to meet the resistance at the $123,000 upper trend line, reflecting promising growth.
Nevertheless, there is a chance that the price of BTCUSD will rise even more if the buy traders increase their price actions and all the current support level holds, a psychological key level at the $123,000 upper supply level might be reached in a few days as it regains and maintains its upward stability in its medium-term time frame.
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