$BTC forexlive.com
Cryptocurrency
Join
Bitcoin price prediction - to cross up $100k
Here is the next price I am looking at for BTCUSD. Always trade bitcoin at your own risk only.
Itai Levitan
Itai Levitan
26/12/2024 | 00:12 GMT
Trump riding the bitcoin bull
Trump riding the bitcoin bull
Bitcoin Price Update and Forecast:
Bitcoin (BTC/USD) appears poised to cross the $100,000 mark again as current price action aligns with bullish technical indicators on the daily chart. Here’s a quick breakdown:
BTCUSD daily chart within the Donchian Channel with RSI
BTCUSD daily chart within the Donchian Channel with RSI
Donchian Channel Basis Acting as a Magnet:
The basis of the Donchian Channel sits at $100,252, which is currently acting as a price magnet. This behavior is reasonable because the basis (halfway point between the recent high and low) often represents equilibrium where buyers and sellers converge. Markets naturally gravitate toward this "mean" before deciding on the next significant move, and with Bitcoin's price steadily climbing, the basis is drawing it upward.
RSI Trending Bullish:
The RSI (Relative Strength Index) at 54 is comfortably above the 50-neutral line, indicating mild bullish momentum. Notably, it has been rising for the past three days, signaling strengthening buying pressure. While not yet overbought, the RSI hints at further room for upside.
Momentum and Price Structure:
Recent candles show a sequence of higher lows, reinforcing the short-term bullish structure. If the $100,252 level is breached decisively, it could act as a springboard for a move toward the recent highs near $108,000.
