The Bitcoin halving event is just a few days away. The Bitcoin price is already showing a slight recovery after a considerable decline. Is this the perfect time for a rally above $10,000 and towards the all-time high at $20,000?
The Bitcoin Price Analysis: Technical Details
Right now, the Bitcoin price is trading at $6,681. The initial resistance is at $6,800, and $7,000 is a significant level. The BTC/USD is expected to get a ‘basic” fall to $6,000, a movement that would generate a new market, supporting more buyers to enter the market for the upcoming rally towards $10,000.
Support one: $6,413– One week Fibonacci 25.6%
Support two: $5,998 – SMA 200 1-hour, SMA 50 4-hour, and the one week Fibonacci 40%.
Resistance one: $6,710 – SMA 50 15-minutes, Bollinger Band 1-hour.Resistance two: $7,008.
The Bitcoin price is displaying a few sure signs above the $7,450 and $7,400 support levels against the USD. The price could pound higher towards $7,000 or even $7,500 if it clears the $6,800 resistance.
Changpeng Zhao is imagining a Bitcoin Price has a market capitalization of $2 trillion
The CEO of Binance, Changpeng Zhao, is envisioning a market situation where Bitcoin Price has a market capitalization of $2 trillion. In his view, such a large market cap would place the price per BTC at $100,000. One factor that could send Bitcoin’s market share to such levels is the continuous printing of money by central banks around the world to avoid possible economic pressures amid the Coronavirus pandemic.
Day traders and dealers are liking this kind of volatility which is very high in every market right now … But increasing the Bitcoin price on decreasing volume is not a complete buy situation.
- Shiba Inu Price Prediction: How High can SHIB Price reach by 2030?
- Bitcoin Price Prediction: BTC is on the brink of $50,000
- Bitcoin Price Analysis: Bitcoin Crash?
- Conservative Cardano Prediction for 2023 – How high can Cardano go?
- Bitcoin Price Aims To Hit $12,000 In The Short-Term
- Bitcoin Price Prediction: BTC Gears Up for $50,000
- Bitcoin Price Prediction
- Ripple Price Prediction – How High will XRP reach in 2050?
- Chainlink Price Prediction – LINK fails to breakout of critical pattern, suggests pullback is nearby
- Bitcoin Could Be Aiming for $100,000 After Reaching An All-Time High Market Capitalization
- Crypto Millionaire: Buy THESE Cryptos before they BOOM in 2023?
- Bitcoin Price Surpasses $12,700 As PayPal Announces Crypto Payments
- Bitcoin Price Analysis: Will BTC Price Continue to Rise?
- Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Crypto market consolidates as BTC hits $30,000
- Shiba Inu to Reach 1$ soon? This New Upcoming Development Proves it Right
- Bitcoin Will Reach $300,000 by The End of 2021 According to CitiBank!
- Coinbase Ex-CTO Says Bitcoin Price Can Touch $100,000
- XRP Price is about to BOOM if the crypto market recovers! Buy $XRP?
- Bitcoin Price Experiences Healthy Consolidation Down to $26,000, Still Aims for $30,000.
- Bitcoin Price Prediction – Bitcoin Falls Under $11,000! How Low Will The BTC Price Drop?
- Bitcoin Price Drops 16% But Recovers Quickly
You might also like
More from Bitcoin
Will Bitcoin continue to rise in the coming weeks? In this article, we go over the top 3 reasons why …
What's next for Bitcoin now? Will Bitcoin reach $30,000 soon? Let's analyze in this Bitcoin price prediction article.