- Bitcoin price prediction expects a new YTD rally.
- Bitcoin price hits the $15313 level.
- BTC holding above $15000 and likely to hit $21000 in the long term.
The king of cryptocurrency has just managed to hit the year to date high and a new bullish rally is set to begin shortly. The price chart below clearly depicts a new high that was formed at $15,313 and the king has reverted back to $14,854 at the time of writing.
The king was likely to see new highs in case Joe Biden wins the United States election and the over all increase in price is tantamount of the previous predictions.
Bitcoin price prediction: Where is BTC headed?
In the past 24-hours cryptocurrency analyst WyckoffMode is one of the major analysts signaling the new high in their predictions. The analyst furthers that the rally would become a Santa Rally being slightly shy of the $21,000 mark if the king manages to hit the Weekly Candle beginning 14th of December, 2020. He also expects each weekly candle from today to be noticeably elevated than the previous one. The analyst confirms two brief pullbacks while acing towards the peak, following which a major pullback will unveil.
WyckoffMode recommends watching out for price action, and if it continues to hike at its present stride. The chance of hitting between the $ 20,900 and $ 21,260 marks is highly likely. Reminding BTC holders. Terming the target range as a long position based on higher time frames, the analyst recommends noting the lower time frames before opting for long position entries highlighted in the graph above. Believing the price to pull down to White UPPER B-Band in the 3-Day prior to recommencing the upper thrust as seen in weekly 9-day and 2 week time frames.
Another cryptocurrency analyst on the trading view, Alan Masters, is also of the view that the king is likely to move towards a Santa rally and confirms that all resistance is out of Bitcoin charts, and the next blockade is likely to be above $19666. BTC will strongly maintain its bullish trend and should likely influence altcoins to follow suit. The analyst predicts an enormous bull rally by Altcoins based on the 2017 and 2018 trends.
Daniel Kostecki, Chief Analyst Conotoxia Ltd. discusses the cryptocurrency king hitting an all-time high since Jan 2018 and further-reaching close to the $15000 price point. His analysis predicts a new stir in the charts by smashing the upper curb and moving towards the upward channel. Explaining the enormity of the upward movement, the analyst compared it to the observation of 2019 where the 100% Fib expansion had been shattered. Kostecki predicts the next feasible bullish target to be at 161.8 Fib expansion at $21304.
An intersecting trend has been noted by price analyst Kerell depicting similarity in the charts of May/June 2019 BTC charts and the daily charts. In June 2019 Bitcoin moved upward from point 4 to 50 percent, replicating a similar gain puts BTC at the $20,000 price point.