Bitcoin price records a massive rally last week due to a technical breakout, asa cum sa raportat mai devreme by CoinGape. The BTC price trend was able to build momentum and surpassed the psychological level of $20K.
În ultimele 24 de ore, prețul BTC a fost tranzacționat lateral după ce a atins un maxim de 21,345 USD. Cu toate acestea, datele și analiștii din lanț sugerează mai multe avantaje pentru Bitcoin. Prețul BTC poate crește peste 65 USD până la jumătatea anului 2023?
Bitcoin (BTC) Price Turns Bullish
Bitcoin price is trading strongly above the psychological level of $20K. However, the BTC price may witness some pullback due to the possibility of profit booking by investors.
In the daily timeframe, a breakout of the Bollinger Bands Squeeze in the last few days caused a massive rally in the Bitcoin price. As the bands are still diverging amid a rise in volatility, the BTC price will continue to move higher. However, RSI indicates a high possibility of a pullback as it hit almost 90 in the overbought zone.
Moreover, a crossover of 20-EMA over 50-EMA shows a continuation of the bullish trend. Finally, tauri have taken over bears and brought a recovery across the crypto market.
Analiști cripto Michael van de Poppe and Credible Crypto remain bullish on Bitcoin price. Michael van de Poppe believes the BTC price will pullback below $21K amid the bounce in the U.S. dollar index (DXY), which is currently over 102.50.
“If you thought the run to 60k we had was aggressive wait till you see this 5th wave,” said Credible Crypto.
Meanwhile, veteran trader Peter Brandt shared two charts, a weekly and a monthly, predicting a Bitcoin price rally to $65K in mid-2023. As per Brandt, the BTC price will hit $25K and witness a correction to $18K. Thereafter, a rally to at least $65K can be witnessed. However, he also believes that it’s difficult to predict prices in the current market conditions.
On-Chain Analysis of Bitcoin
Conform Glassnode de date, Bitcoin price is following its historical pattern despite experts remaining uncertain whether historical chart patterns apply to the current cycle.
Bitcoin traded below the 200-daily moving average (DMA) for 386 days in the 2018-19 piață bear. Considering the last week’s rally, the BTC price is back above 200-DMA after 381 days.
Thus, there is a high possibility that Bitcoin has bottomed out and the next cycle has started. However, investors need to consider other factors before deciding to invest in the current market conditions.
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Conținutul prezentat poate include opinia personală a autorului și este supus condițiilor pieței. Faceți cercetările de piață înainte de a investi în criptomonede. Autorul sau publicația nu își asumă nicio responsabilitate pentru pierderea dvs. financiară personală.
Source: https://coingape.com/bitcoin-price-moving-to-65k-heres-what-on-chain-data-and-analysts-suggest/