BTC/USD Currency Pair Forecast
Bitcoin was trading above $61,000 on Sunday. How long has such a price been set, and is a new record possible? Let’s get to the bottom of this
At the end of the week, BTC overcame the previous ATH, set at $58,000. Then the $60,000 mark was breached. Judging by the schedule, a long-term bullish trend has been established.
Bull traders will have to work hard for bitcoin to break through resistance levels. They were set at $65,000, $67,000, $69,000. In the case of a rollback, support for the first cryptocurrency will be given to levels of 53,000, 51,000, 49,000 dollars.
BTC/USD daily chart
The price of bitcoin has been rising steadily over the last couple of days. Unless there is a major shock, nothing prevents BTC from installing a new ATH. The market is above the two average moving (9 and 21-day).
What are bitcoin’s prospects?
Cryptocurrency was traded in the channel, but now its value is approaching the upper limit. There seems to be new growth ahead. The RSI indicator (70) is part of the overbought zone. The forecast is bullish.
Of course, small fluctuations are possible. But a significant drop in the price is possible if it falls below the average moving.
BTC/USD medium-term trend: bullish
Bitcoin has shown impressive movement. Resistance at $60,000 was overcome and this had a positive impact on the market. Then the price went up above $61,000. If bullish trends continue, it is possible to move to $63,000 or higher.