Bitcoin price prediction stands at $54k

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Bitcoin has lastly settled above the $50k stage and may very well be set to the touch new month-to-month highs over the approaching hours and days

The cryptocurrency market continued its restoration journey this week, with Bitcoin surpassing the $50,000 resistance level and settling above the $51,000 mark. Bitcoin rose by 6% over the previous week, reversing the 0.95% loss it recorded within the earlier week.

Final week’s rally noticed Bitcoin attain the $51,000 stage over the weekend. The rally got here after a bearish begin to the week that noticed BTC drop under the $47,000 mark on Wednesday. Nevertheless, Bitcoin has managed to avoid its first main help stage at $46,554 to succeed in an intraweek excessive of $51,900.

The approaching week might see Bitcoin attain new month-to-month highs because the broader cryptocurrency market continues its restoration. Market analysts are enthusiastic about Bitcoin’s present place, and there’s a normal sense of optimism {that a} additional rally might comply with.

Bitcoin value prediction

The BTC/USD 4-hour chart is wanting very bullish for the time being following Bitcoin’s efficiency over the weekend. Over the approaching hours and days, BTC would want to avoid the 23.6% Fib stage at $50,473 and the $50,900 pivot stage to make sure it embarks on a bullish run.

BTC/USD 4-hour chart. Supply: TradingView

Avoiding these ranges might set BTC up properly to make a run for the following resistance stage at $53,590. Bitcoin might look to intention for the $54,000 mark within the coming hours or days if the present market situations persist. Within the occasion of an prolonged Bitcoin rally, BTC might take a look at the second main resistance stage at $55,400 earlier than the tip of the week.

Bitcoin’s failure to keep away from the $50,900 pivot might see the main cryptocurrency fall in the direction of the primary main help at $48,280. Until the bearish sentiment within the crypto market grows stronger, the second main help stage at $44,780 ought to restrict any additional downward motion.

Bitcoin’s value goal over the approaching week is $54,000. If you need to purchase Bitcoin, then 

Try our methods to purchase Bitcoin web page right here


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Disclaimer: The views expressed in The Coin Times are solely those of the authors cited. It does not constitute The Coin Times recommendation to buy, sell, or hold any investment. Before making any financial decisions, it is recommended that you undertake your own research. Use the information supplied at your own risk. For additional information, please see the Disclaimer.

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