- Bitcoin price prediction continues to experience fluctuations, traders seek direction.
- Bitcoin price hits the $15,638 level.
- BTC holding moving toward the $16000 mark
Bitcoin price went up as high as $15,995.43 before witnessing a drop to $15,638.88. The king of cryptocurrency is experiencing consistent fluctuations between the $15300 and $15900 range; a high possibility of continual bullish trends is rising as the king moves towards the $16000 mark.
At the time of writing, the cryptocurrency king is trading hands at the $15,694.54 mark. While on the other hand, trading view technical signals consistently show weak buying momentum (16) and an even weaker selling momentum (3), while 9 remain neutral.
The moving averages signal a strong buying impetus, with the Exponential moving average valued at $ 15,452.19 inclined towards buying. The oscillators depict a weak selling approach with a relative strength index of 71.85, inclined towards neutral action.
Bitcoin price prediction: What to expect?
Top trading view pricing analyst VincePrince takes us through some major changes of the king’s trends after its recent move over the resistance within the formation.
Now that BTC has crossed the crucial stage, the circumstances have changed tremendously. Possibility of sturdy price actions being witnessed along the move forward in the structure may lead to cogent potential that traders and investors must watch out for. The analyst points out some yet to witness broad resistance layers on the upper timeframes and further indicated the prospective critical marks and their outcomes in the chart above.
Bitcoin has made its move over the dynamic trend line converting the prior resistance layer into a current sturdy support. With BTC testing the center of the well-established ascending channel structure, a pullback to the dynamic trend line has been observed. A bullish tendency is visible considering BTC having tested similar price action earlier and further expecting it to move towards the upper levels of the structure, contributing towards completing the wave count the king has been seen forming. Pulling back at this mark to further navigate with a bearish price action would lead to the completion of this wave count and further intensify bearish possibilities as the king dips to the lower zone of the formation.
VincePrince concluded by pointing out the strong growth potential of the king’s volatile bullish mode and highlighted the importance of the resistance layers expected to be the prime factors in the oncoming charts.
Another top analyst of TradingView, Alanmasters confirms the cryptocurrency king moving towards bearish tendencies. The analysis chart below depicts powerful bearish forking along the line of Moving Average Convergence Divergence (MACD), relative strength index (RSI), and stochastic oscillations (STOCH). The analyst recommends traders, and potential investors keenly observe the $15400 – $15500 range and expect strong support at the EMA50 mark.
BlockchainYahoo predicts the king swiftly nosediving to $12,000 and further declining to as low as $9000 before pushing towards powerful bullish trends, reaching new heights by Jul/Aug 2021.