The crypto consolidation might be over as Bitcoin up prices started to make a move upwards again. In the past 24 hours, the crypto market is up by more than 5% as most cryptos made a significant move higher. Now that the crypto market is moving upwards, investors are interested in buying back their way into their favorite crypto. BTC is the biggest by market cap and presents an interesting buy from the current price of $21,800. Where will Bitcoin reach next? Let’s analyze in this Bitcoin price prediction article 😉
BTC EXPLODES by 10% in the past 24 hours
After a brief consolidation, Bitcoin prices managed to break the important price of $20,000 upwards. This level was heavily watched by investors and traders who wanted to predict the future price action of BTC and the entire crypto market. Bitcoin still has a dominance of 43% over the crypto market. Any upward move in BTC prices would send other altcoins prices higher.
In figure 1 below, we can see how BTC broke the $20,000 price mark, and continued straight to reach the current price of $21,800.
Bitcoin Price Prediction – Where will Bitcoin reach Next?
Now that BTC prices are on the move again, we can establish some basic targets. Since BTC is up by more than 10% in the past week, we might face a small adjustment lower, bringing prices back towards $21,000. However, since the crypto market turned bullish, BTC price might continue higher after that brief adjustment.
In figure 2 below, we can see an important resistance price of around $22,500. Once this is broken higher, BTC prices can rally back to the next target of $27,500.
