It seems that Bitcoin price prediction is approaching bullish confirmation. The small piercing of the Bollinger Bands shows there are confidence and liquidity in bulls to take the move forward tomorrow. The long bullish candle on the 4-hour chart shows that bulls had their say at the end of the day.
BTC/USD 4-hour chart – Bulls are on the verge of a breakout A daily close above resistance would entice more bullish traders to the fold and create long-term positions, albeit with caution. MACD is still in the neutral region and will be more credible once bulls take Bitcoin price above $11,000.
The Relative Strength Indicator is inching out of neutral territory to touch bullish levels. Both the simple and exponential moving averages are rising to support the bullish move. Once again, bulls are on the verge of taking down a crucial resistance level in their quest to reach $12,000. Currently, Bitcoin’s rise would certainly give the altcoins a much-needed boost and calm the DeFi market as well.īitcoin price movement in the past 4 hours – Tearing through resistance Bitcoin price chart by TradingViewĪs the day comes to a close, Bitcoin price has jumped to land near the $11,000 resistance. For Bitcoin price prediction to turn bullish, it must be taken out decisively by the bulls to turn it into support once again and continue the momentum forward.Ī breakout above $11,300 would also boost confidence in altcoins and increase overall liquidity into the system. Previously, the price range between $11,050 and $11,300 acted as support. However, the price must close above $11,000 to indeed indicate an upside opening on the daily charts. As BTC/USD trades near $10,900 level, the crucial triangle is broken on hourly charts. The trendline for Bitcoin is going strong and pointing towards an upside breakout. BTC on-chain fundamentals predict a revival of the 2017 bull runīitcoin price prediction – Current price overviewīitcoin is trading near $10,878 and around the day’s high of $10,947.Analysts expect a massive movement in the next few days, and whales sit on the sidelines.Multiple trend catalysts indicate how current stagnation is overdue, and a breakout is imminent.Bullish and bearish extremes of the range have been tested multiple times.Bitcoin price prediction is stuck in an incredibly tight range for the past few weeks.