Bitcoin is doing well today in the crypto market. At the time of writing, the price of BTC was around $64,200, which is good news. In the last 24 hours, it went up by 0.76%. According to coinmarketcap data, the trading volume of Bitcoin around this time frame was around $22.050 billion.
Source: CoinMarketCap
Bitcoin is still the top cryptocurrency, with a market value of about $1.264 trillion. According to technical signs and patterns, bitcoin is showing it’s steady and could keep going up.
Bitcoin Price Prediction
On Bitcoin’s 4-hour chart, things are looking up for buyers. Today’s key point is $65,500. The broader market trend is positive, especially since Bitcoin crossed the 50-day moving average at $62,900. This usually means there’s potential for more gains ahead.
The ‘three white soldiers’ candlestick pattern indicates strong momentum, usually meaning the price could keep going up.
Key Levels to Watch
Bitcoin has passed the 50-day moving average, which often signals good times ahead. The next price goals might be $65,500, $66,600, and $69,200. If prices fall, $62,900 and $61,000 are important levels to watch for support.
Source: TradingView
Even though things look hopeful, there’s a chance the price could face major resistance around $65,500, slowing down its rise for a bit. But if it breaks past this, Bitcoin might head to $66,600 next. After that, it might meet resistance at $69,300 and $71,200, where sellers might try to stop its climb.
If Bitcoin starts to drop below its main point, it might find support first at $62,900. Then, there are other support levels at $59,500 and $56,600. These are important areas that could help keep the price stable if it starts to go down.
The Relative Strength Index (RSI) is at 60, showing that Bitcoin might be a bit overbought. But there’s still space for it to go up more before hitting levels where it usually starts to come down. This lines up with the positive view, as the RSI doesn’t show that the market is stretched too far yet.
Bitcoin seems to be in a good spot in the market. If it stays above $64,300, it might have a chance to test even higher resistance levels.
Disclaimer: Crypto is a high-risk asset class. This article is for informational purposes only and does not offer investment advice. You could lose all of your capital.
