Bitcoin (BTC) Price Prediction for September 22
According to CoinStats, bears are attempting to take control of the market at the end of the week. The price of Bitcoin has dropped by nearly 1% over the past day, but it has still seen a 3.91% increase over the last week.
Looking at the hourly chart, BTC has experienced a false breakout of the local support level at $62,578. If the daily bar closes far from this level, it is likely that the price will bounce back to the $63,000 area.
However, on the larger time frame, buyers have been unable to sustain the upward momentum. If the current bar closes around the current prices, a correction down to the $61,000-$62,000 range could be expected next week.
On the weekly chart, BTC is currently far from key levels. With neither bulls nor bears taking control yet, it is probable that the market will continue to trade sideways in the $60,000-$65,000 zone until the end of the month.
As of now, Bitcoin is trading at $62,606.