• About
  • Advertise
  • Contact
Cryptopolitan
  • Home
  • News
    • All
    • Altcoin News
    • Binance News
    • Bitcoin Cash News
    • Bitcoin News
    • Blockchain News
    • Cardano News
    • ChainLink News
    • Cyber Security News
    • Dogecoin News
    • EOS News
    • Ethereum News
    • Exchange News
    • Industry News
    • Litecoin News
    • Monero News
    • Polkadot News
    • Regulation News
    • Research News
    • Ripple News
    • Scam News
    • Token Sale
    • Tron News
    Bitcoin

    Bitcoin worth $4.5 billion transferred in historic event

    MicroStrategy  partners with MIT to strengthen Bitcoin  network 1

    MicroStrategy partners with MIT to strengthen Bitcoin network

    Bitcoin

    Bitcoin remains bearish despite breaking $48,000 mark

    Weekly Crypto Price Analysis 01-03: BTC, ETH, DOT, UNI, SUSHI

    Weekly Crypto Price Analysis: BTC, ETH, DOT, UNI, SUSHI – 1st Mar

    MicroStrategy

    MicroStrategy buys more Bitcoin yet again

    DOGE price prediction

    DOGE Price Prediction: Dogecoin on the brink of a 50 percent price depreciation

    FATF

    Bitcoin could soon be adopted for international exchange – CitiBank Analyst

    Did the Farmcubation of $EBOX Work? 2

    Did the Farmcubation of $EBOX Work?

    ethbox Smart Contract Code is Fully Audited and As Secure As Possible 3

    ethbox Smart Contract Code is Fully Audited and As Secure As Possible

    Trending Tags

    • Fintech
    • Bitcoin Industry
    • Stock Market
    • Digital Currency
    • Bitcoin
    • Altcoin
    • Blockchain
    • Binance
    • Security
    • Ripple
    • Litecoin
    • Ethereum
    • Dogecoin
    • Cardano
    • Tron
    • Token Sale
    • Industry
    • Exchange
    • Polkadot
    • ChainLink
  • Guides
  • Regulation
  • Price Index
    • Bitcoin Price
    • Ethereum Price
    • Ripple Price
    • Bitcoin Cash Price
    • Chainlink Price
    • Litecoin Price
    • Polkadot Price
    • Cardano Price
    • Binance Coin Price
    • Stellar Price
    • EOS Price
    • Tron Price
    • Monero Price
    • Dash Price
    • IOTA Price
    • Dogecoin Price
    • Altcoin Price
    • Sushi Price
    • Uniswap Price
  • Research
  • Scam
  • Events
No Result
View All Result
Cryptopolitan
  • Home
  • News
    • All
    • Altcoin News
    • Binance News
    • Bitcoin Cash News
    • Bitcoin News
    • Blockchain News
    • Cardano News
    • ChainLink News
    • Cyber Security News
    • Dogecoin News
    • EOS News
    • Ethereum News
    • Exchange News
    • Industry News
    • Litecoin News
    • Monero News
    • Polkadot News
    • Regulation News
    • Research News
    • Ripple News
    • Scam News
    • Token Sale
    • Tron News
    Bitcoin

    Bitcoin worth $4.5 billion transferred in historic event

    MicroStrategy  partners with MIT to strengthen Bitcoin  network 4

    MicroStrategy partners with MIT to strengthen Bitcoin network

    Bitcoin

    Bitcoin remains bearish despite breaking $48,000 mark

    Weekly Crypto Price Analysis 01-03: BTC, ETH, DOT, UNI, SUSHI

    Weekly Crypto Price Analysis: BTC, ETH, DOT, UNI, SUSHI – 1st Mar

    MicroStrategy

    MicroStrategy buys more Bitcoin yet again

    DOGE price prediction

    DOGE Price Prediction: Dogecoin on the brink of a 50 percent price depreciation

    FATF

    Bitcoin could soon be adopted for international exchange – CitiBank Analyst

    Did the Farmcubation of $EBOX Work? 5

    Did the Farmcubation of $EBOX Work?

    ethbox Smart Contract Code is Fully Audited and As Secure As Possible 6

    ethbox Smart Contract Code is Fully Audited and As Secure As Possible

    Trending Tags

    • Fintech
    • Bitcoin Industry
    • Stock Market
    • Digital Currency
    • Bitcoin
    • Altcoin
    • Blockchain
    • Binance
    • Security
    • Ripple
    • Litecoin
    • Ethereum
    • Dogecoin
    • Cardano
    • Tron
    • Token Sale
    • Industry
    • Exchange
    • Polkadot
    • ChainLink
  • Guides
  • Regulation
  • Price Index
    • Bitcoin Price
    • Ethereum Price
    • Ripple Price
    • Bitcoin Cash Price
    • Chainlink Price
    • Litecoin Price
    • Polkadot Price
    • Cardano Price
    • Binance Coin Price
    • Stellar Price
    • EOS Price
    • Tron Price
    • Monero Price
    • Dash Price
    • IOTA Price
    • Dogecoin Price
    • Altcoin Price
    • Sushi Price
    • Uniswap Price
  • Research
  • Scam
  • Events
No Result
View All Result
Cryptopolitan
No Result
View All Result
Home News Bitcoin News

Bitcoin price prediction – Pre-election Hurrah Week brings $13,760, next stop $20,000

Gurpreet Thind by Gurpreet Thind
October 27, 2020
in Bitcoin News
5 min read
Bitcoin price prediction – Pre-election Hurrah Week brings $13,760, next stop $20,000
586
SHARES
3.2k
VIEWS
Share on FacebookShare on Twitter
  • Bitcoin price prediction continues highly bullish trajectory as bulls beat $13,000
  • Bullish price action demolishes major resistances turning them into support
  • All hurdles now cleared to target an all-time high of $20,000
  • Bitcoin price prediction now firmly entrenched in the bullish region as last ‘Hurrah Week’ begins
Bitcoin price prediction – Pre-election Hurrah Week brings $13,760, next stop $20,000 7
Cryptocurrency Heat Map by Coin360

Bitcoin price prediction enters firm bullish phase with new annual highs

There’s no stopping the aggressive bullish Bitcoin price prediction as we enter the last week before the U.S. Presidential elections in early November. Bitcoin price posted a fresh new annual high of $13,760 after demolishing all the major resistances underneath. With $14,000 in the sight on hourly charts, it is time traders look at an all-time high of $20,000.

Bulls have maintained consistent buying action despite the technical indicators flashing overbought signals on the charts. The impressive strength of this rally can be attributed to both traders and institutional purchases. BTC whales are also now part of this rally as large addresses are beginning to emerge as participants in this bullish rally.

The past two weeks have seen BTC/USD take down major resistances in pursuit of higher prices. Today’s high of $13,760 reflects the strength of Bitcoin in the face of the dwindling traditional markets.

RelatedPosts

Bitcoin worth $4.5 billion transferred in historic event

Bitcoin remains bearish despite breaking $48,000 mark

Bitcoin could soon be adopted for international exchange – CitiBank Analyst

Bitcoin Whale moves 7,073 BTC to cold storage

Bitcoin price movement in the last 4 hours – BTC/USD going strong as more resistances pile up

Bitcoin price prediction – Pre-election Hurrah Week brings $13,760, next stop $20,000 8
Bitcoin price chart by TradingView

The bulls are slowly and steadily taking out all the significant resistances on the hourly charts. At the start of the day, Bitcoin struggled to take out $13,200 resistance, but the stretching Bollinger Bands provided the right opportunity to achieve higher prices. At the time of writing, the BTC/USD pair is trading near the annual high of the $13,720 mark.

In the last 4 hours, the price is stabilizing near the upper end of the Bollinger Bands at the $13,700 region. This suggests that the initial frenzy is not dead yet and buying activity is very much maintained even at higher levels. There can be profit booking at the end of the day, which has been the usual trend, but bulls have made sure that it does not intensify.

Short term traders may bring Bitcoin price prediction back to the $12,450 region. The ‘Relative Strength Index’ is currently in an overbought region despite the aggressive buying. Both the moving averages are on an upward slope. The 20-day exponential moving average stands near the $12,044 level. A little correction near this region will help cool down technical indicators, and bulls can once again start their journey towards $14,000.

BTC/USD 4-hour chart – Green candles perfectly line up to bring fresh highs

The 4-hour chart shows a perfect green setup that reflects the hard work of the bulls to bring the BTC/USD pair to fresh new highs. The 50-day simple moving average is looking up with a strong bias to support the bulls. Additionally, MACD is beginning to show signs of exhaustion on the hourly timeframe.

The weakening U.S. dollar is adding more fuel to the fire. Both gold and Bitcoin are doing relatively better compared to traditional stocks due to the decline in the dollar. The declining altcoins are adding more funds to the crypto king’s stable. The Bitcoin dominance is in play here as the crypto traders are moving their wealth into BTC before the next month’s Presidential election in the United States.

1) The pandemic led to uncertainty & chaos across markets in March & April.

During shocks like this, we historically have seen liquidity crises play out — everyone starts selling any asset with a liquid market.

I wrote about it as it was happening.https://t.co/UJUB08smYN

— Pomp 🌪 (@APompliano) October 26, 2020

There is a possibility of a ‘double top’ pattern emerging on the 4-hour chart if there’s some selling at higher levels. The bullish flag pattern that can come under threat is selling intensifies further, which can bring the price back under the $12,750 support level. This level is crucial as bulls will accumulate here for the next jump higher to cross $14,000.

Technical indicators and fundamentals support the move towards $14,000

The RSI is printing a lower high, showing there’s some smoke left in the fire. Though overbought, the weakening uptrend may give one last upmove before stabilizing near lower support levels. Unless bulls can bring in considerable buying volume, bears will look to bring the price down quickly.

Traders expect resistance between $13,400 to $14,250, where bulls are likely to face significant hurdles. The larger weekly time frame that shows an upswing from the $11,600 region is still supporting the bullish Bitcoin price prediction move. The Fibonacci level for resistance shows there’s a crucial hurdle near the $14,250 level.

BTC/USD pair may face resistance here, but it will likely be a temporary stopover since the weakening U.S. dollar will fuel more bullish movement. The U.S. Dollar Currency Index (DXY) must maintain its support above the 92.50 region, or else safe-have assets will likely keep soaring.

The decoupling is upon us 🙂

Makes sense that BTC will continue to be correlated in short timeframe trading; but not in the longer timeframes.

BTC is a safehaven, just that "risk-on" (meaning it's very new) is skewing this fact. https://t.co/74Agg0REAo

— Willy Woo (@woonomic) October 20, 2020

Bitcoin price prediction – Last Hurrah week before election looks promising

As the world markets enter an important week prior to a globally charged political event, all eyes are on geopolitical developments. So far, bullish Bitcoin price prediction has maintained its lead over other altcoins by rising to fresh new annual highs. Also, it has once again displayed its safe-haven characteristics by rising amidst a dwindling stock market.

The crucial pivot for BTC is between the $13,000 to $13,200 region. In case it falters, the sharp move will be a deviation, and the price will move back to previous support at $12,750. Excessive selling can also bring $11,600 on the table.

As the political dust settles down, a little bearish movement can prove healthy for Bitcoin price prediction. The euphoria of today’s annual highs may not match the 2017 move, but the slow grinding of the price higher has all the crypto traders excited for bullish Bitcoin price prediction. The annual highs may dissuade many traders from taking long positions from a risk management perspective. However, institutional buying and BTC whales are sure to keep the momentum going.

Disclaimer: The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Tags: cryptocurrency tradingcryptomarket
Gurpreet Thind

Gurpreet Thind

Gurpreet Thind is pursuing Masters in Electrical Engineering at University of Ottawa. His scholarly interests include IT, computer languages and cryptocurrencies. With a special interest in blockchain powered architectures, he seeks to explore the societal impact of digital currencies as finance of the future. He is passionate about learning new languages, cultures and social media.

Related Posts

Bitcoin
Bitcoin News

Bitcoin worth $4.5 billion transferred in historic event

March 1, 2021
Bitcoin
Bitcoin News

Bitcoin remains bearish despite breaking $48,000 mark

March 1, 2021
FATF
News

Bitcoin could soon be adopted for international exchange – CitiBank Analyst

March 1, 2021

Follow Us

  • 40.9k Fans
  • 8.3k Followers

Latest News

LetsExchange Launches Crypto Exchange Platform, Caters to Novices and Expert Traders Alike 9

LetsExchange Launches Crypto Exchange Platform, Caters to Novices and Expert Traders Alike

March 2, 2021
Bitcoin

Bitcoin worth $4.5 billion transferred in historic event

March 1, 2021
MicroStrategy  partners with MIT to strengthen Bitcoin  network 10

MicroStrategy partners with MIT to strengthen Bitcoin network

March 1, 2021
Bitcoin

Bitcoin remains bearish despite breaking $48,000 mark

March 1, 2021
Weekly Crypto Price Analysis 01-03: BTC, ETH, DOT, UNI, SUSHI

Weekly Crypto Price Analysis: BTC, ETH, DOT, UNI, SUSHI – 1st Mar

March 1, 2021

Signup To The Daily Roundup

Get New Posts By Email:
Privacy Policy

Got a Story tip? Email Contact@Cryptopolitan.com

News

Guides
Bitcoin News
Blockchain News
Ethereum News
Industry News
Research News
Scam News
Regulation News
Exchange News
Bitcoin Price
Ethereum Price
Bitcoin Cash Price
Cardano Price
Dash Price

Stay Connected

Facebook
Twitter
Telegram
Youtube

Company

About
Contact
Write for us
Advertise with us
Privacy Policy
Cookie Policy
Comment Policy
Editorial Policy
Terms and Conditions
Crypto Portfolio Tracker

Exclusive Partners of

Footer 11

Got a Story tip? Email Contact@Cryptopolitan.com

cryptopolitan 1

News

Guides
Bitcoin News
Blockchain News
Ethereum News
Industry News
Research News
Scam News
Regulation News
Exchange News
Bitcoin Price
Ethereum Price
Bitcoin Cash Price
Cardano Price
Dash Price

Stay Connected

Facebook
Twitter
Telegram
Youtube

Company

About
Contact
Write for us
Advertise with us
Privacy Policy
Cookie Policy
Comment Policy
Editorial Policy
Terms and Conditions
Crypto Portfolio Tracker

Cryptopolitan brings you quality Blockchain and Cryptocurrency news, ICO reviews, crypto technical analysis, and other unique news insiders. We cover Bitcoin news, altcoins news, blockchain projects news, ICO news, regulatory developments and the confluence of news on the leading blockchain technologies.

© 2021 Cryptopolitan. All rights reserved. Terms | Privacy

No Result
View All Result
  • Home
  • News
    • Bitcoin
    • Altcoin
    • Blockchain
    • Binance
    • Security
    • Ripple
    • Litecoin
    • Ethereum
    • Dogecoin
    • Cardano
    • Tron
    • Token Sale
    • Industry
    • Exchange
    • Polkadot
    • ChainLink
  • Guides
  • Regulation
  • Price Index
    • Bitcoin Price
    • Ethereum Price
    • Ripple Price
    • Bitcoin Cash Price
    • Chainlink Price
    • Litecoin Price
    • Polkadot Price
    • Cardano Price
    • Binance Coin Price
    • Stellar Price
    • EOS Price
    • Tron Price
    • Monero Price
    • Dash Price
    • IOTA Price
    • Dogecoin Price
    • Altcoin Price
    • Sushi Price
    • Uniswap Price
  • Research
  • Scam
  • Events

Copyright © 2020 Cryptopolitan.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.