Bitcoin Forecast

The BTC price recently made a downside correction below the $10,000 level. During the decline, the price broke many supports, including the $9,500 and $9,300 levels. However, it remained well bid close to the $9,000 support zone. BTC is currently recovering steadily and trading well above the $9,300 level. There was a break above the 23.6% Fib retracement level of the recent key decline from the $10,390 high to $9,080 low. Notably, it appears there is a key contracting triangle…

Bitcoin has been trading tightly within a range between $9.3k and $9.5k over the previous few days, making it part of the cryptocurrency asset’s consolidation in the past two months which restricted the price action below the critical $10k barrier. Bitcoin market has been dull, such that it is about to attain a level of volatility not recorded since the beginning of 2020. Nonetheless, there is emerging proof that a breakout towards the downside is on the way. Bitcoin’s on-chain…

Throughout the previous few weeks, analysts noted that BTC was eventually looking for a local top. Bitcoin has been rejected at $10k price range three times in the past few months. The rejections led to people’s reconsideration of their bullish stance on Bitcoin because this level is important. Market participants have been considering data from financial derivatives like futures and options to understand cryptocurrency price movements over the previous few months, as they keep providing crucial information. According to derivatives…

In the early hours of May 27, Bitcoin was able to move above $9k to attain $9.2k, after it spent some days below $9k price level. The move may seem small when it comes to percentage basis, but it has remarkable significance in terms of technical factors. The $9k level has since become a key technical and psychological level for Bitcoin. Bitcoin’s ability to surge above it once again presents some signals which suggest a possible rally above its monthly…

Like before, Bitcoin is currently fixed within a stint of sideways trading, striving to secure momentum while hovering at price levels around the $8,800 area. Its performance has been around the area over the previous few days, and it seems to be a crucial support level. Buyers have stood strongly to protect Bitcoin from a fall beneath this price, but analysts are currently suggesting a move that will favor the bears based on high time frame outlook. At press time, the…

Bitcoin has been trying to surge past its current psychological price level ($10k) such that the two attempts in the past week were unsuccessful. The second attempt encountered serious rejection, leading to a decline to price levels as low as $9.2k, a level which has been attained several times within some days. Some investors have been heedful due to the lukewarm price action of Bitcoin and the possibility of additional downside movement, with a reference to its loss of the…

Like regional currencies such as the US dollar, Bitcoin is a digital currency with a finite, limited supply like Gold or Silver. Since it is based on new technology and nearly unregulated and borderless, it is highly volatile, featuring wild fluctuations in its purchasing power, which can happen intermittently over a short time. Volatility is the main reason seasoned investors in traditional markets tend to be wary of Bitcoin. However, it is also why other investors embrace it due to…

Bitcoin has been trading on the sideways and has once again failed to close its daily candle over $7.2k. Hence, it is vulnerable to more downside this weekend and in the coming week. Bitcoin may fail to make any notable trend defining moves in the days ahead either. According to an analyst, its direction will be influenced by the direction the United States stock market trends next week. That is, its performance this weekend will be dull such that it…

BTC/USD Pair Price Analysis Over the previous week, the attempt by the BTC/USD pair tried to surge over two barrier levels ($7.4k and $7.5k) failed. The pair attained $7,470 and in recent times began to fall. It was able to break the $7.2k support level to land in a declining area. The pair’s 4-hour chart shows a break beneath a key bullish trend line with support at $7.2k. Currently, the pair is close to a critical support at $6.7k and…