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Bitcoin Price Prediction: King Coin Could Rise as RSI Crosses 50-Level

• Bitcoin price prediction shows that BTC is following a sideways movement, hovering around the $16,700 level.
• Technical indicator Relative Strength Index (14) is crossing over the 50-level, suggesting that the king coin may be ready for an upside.
• If the Bitcoin price continues to range, the coin could rise and cross the upper boundary of the channel.

The Bitcoin price prediction for January 3rd sees the king coin continuing to follow a sideways movement, with the price hovering around the $16,700 level. This comes after the coin experienced some downward pressure in the past few weeks, with the Bitcoin price unable to break through the 9-day and 21-day moving averages.

The technical indicator Relative Strength Index (14) is crossing over the 50-level, suggesting that the king coin may be ready for an upside. This could mean that if the Bitcoin price continues to range, it could rise and cross the upper boundary of the channel. However, additional losses could still play out until there is a change in the price movement.

The Bitcoin market cap is currently at $322.4 billion, with a circulating supply of 19.2 million and a total supply of 19.2 million. The coin is currently ranked #1 on Coinmarketcap.

Overall, the Bitcoin price prediction for today shows that the king coin is bound for a spike in volatility, but it is unclear if the coin will be able to break through the moving averages and continue on an upward trend. As such, it is important to keep a close eye on the Bitcoin price in order to remain up-to-date with the latest developments and changes in the market.