- Bitcoin price prediction expects a new YTD rally.
- Bitcoin price hits the $15904 level.
- BTC holding moving towards $ 16000 and likely to hit $21000 in the long term.
The king is likely to continue the bullish trend, moving towards a Santa rally and expected to further spike up as Joe Biden heads closer to the White House.
Bitcoin price went as high up as $15981 at one point only to fall back to current support levels found at the $15700 range.
Bitcoin price prediction: Where is BTC headed?
Despite many thinking, the cryptocurrency king is overrated and overbought across all time-frame; price analyst Tradingshot is of the view to hold on to those BTC numbers and not consider selling at this point. Key indicators clearly reveal that the current bullish rally is far from over. The chart above signifies the role played by every Fibonacci retracement level (0.382, 0.618, 0.786) since December 2018. Last week the final Fibo level was filled 0.785 while the only unfilled level since December 2017 is the one intersecting with January 01, 2018, weekly candle at 0.918 Fib, which Is currently at a price mark of $17000.
Analyst predicts buyers could aim to contact this and stride along to reach the $20000 mark by end of the year. Every Fib on the chart has worked to support the structure since April except for the 0.786 level, presently worth $13000. It has assisted last week and this week’s 1w candle. The analyst recommends watching out for this level.
RSI depicted in the 1W timeframe in the lower end of the chart indicates the resistance meeting the 80.00 level. Made in May – July 2019 by a double top, it is the main factor reaching the two noticeable highs in June 2019 and December 2017. Observing the 1W RSI may be helpful in spotting the optimum level to make gains on this rally.
Price analyst Protixder highlights the $15,900 to $16000 area wherein a down trend is expected to begin. Predicting to pull back to the $14000 mark or tread lower , BTC traders are expected to leave at the time of recovery. The whale effect further confirms the long term effect on Bitcoin surges.
In his Bitcoin price prediction analyst VincePrince discuss the cryptocurrency king’s recent upthrusts in a 4-hour time frame outlook. Talking about the recent volatile surges, the analyst calls the uplift a major progress for Bitcoin (BTC) to obtain a powerful bullish tempo within the range and lie still for consistent bullish price-action. VincePrince further predicts a higher all-time high in 2021 as long as consistent price actions are maintained in the last 2 months of 2020.
BTC made a strong bullish move over the June 2019 mark and expectations are around BTC confirming further bullishness by managing to soar above the upper limit of the rising-channel emergence.
Calling the predicted Alt season of 2021, the cause of a massive paradigm shift, the analyst confirms it to be the foundation of a series of bullish trends. Watching out for Bitcoin to hold above the June 2019 price condition as compared to other cryptocurrencies like Ethereum or Ripple will determine how close BTC gets to its entrenched all-time-highs.