Altcoins Talks - Cryptocurrency Forum
Learning & News => News related to Crypto => Topic started by: Quantum X on December 23, 2020, 04:51:36 PM
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Bitcoin Price Prediction: BTC/USD May Head To $25,000 Level If The Market Closes Above This Level
(https://i.imgur.com/yPaWTVJ.png)
BTC Daily Chart
After a tremendous bullish movement this month, BTC/USD continues to trade above the 9-day and 21-day moving averages, facing hurdles at the $24,000. As of now, Bitcoin has been aiming to fall again, but the key support is becoming a threat to the bears. However, the king coin is preparing to cross above the upper boundary of the channel with a gain of 0.48% in the last few trading hours.
Would Bitcoin Go Up or Down?
At the time of writing, Bitcoin is moving above the moving averages on the daily chart. After falling to $23,710 support, BTC/USD makes a quick price jump towards the upper boundary of the channel, from where the bulls may resume pressure. Now, the price is hovering around the $23,936 level, any bearish movement below this level, then, the $21,500, $21,300, and $21,100 supports may come into play.
However, if the 9-day MA can continue to provide support for the market, traders can expect the price to climb back to $24,100 resistance before climbing above the channel to meet $26,800, $27,000 and 27,200 resistance levels. Meanwhile, the technical indicator RSI (14) remains within the overbought zone, suggesting bullish signals.
https://insidebitcoins.com/news/btc-usd-long-term-trend-bullish-daily-chart-86
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From my study and analysis bitcoin might pump to 25$ before January before it dumps again, but the dump will be very deep!!!
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It seems that the price of bitcoin will not rise more than $25 thousand, since it is already the end of the year, Christmas and other holidays are coming soon and this may lead to the beginning of a fall in the prices of all cryptocurrencies. Therefore, I have now exchanged part of my assets for USDT and am waiting for a fall in prices in order to buy more coins.