Bitcoin price prediction stands at $54k



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 

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