Bitcoin Price Prediction: Bitcoin Reclaims $66,000, Does It Signal That The Rise Has Started?
Next Direct Towards $80,000?
After a brief tussle between bulls and bears, Bitcoin price has finally broken out of consolidation. The star cryptocurrency formed a daily high above $66,000 while struggling to stay above that level as bears are using all their might to limit the rebound.
While the price showed great chances of maintaining a sideways trend post-halving, unaffected by the event, the weekend breakout has rekindled hopes of bullish continuation.
BTC price formed a triple top pattern, which is widely expected to break above the lower neckline at $60,000. The bulls have once again managed to fool the bears and trigger a strong reversal, now flashing a huge bullish signal. This breakout is the result of overextension and accumulation. However, on a larger timeframe, the price continues to trade under a bullish influence, which has been confirmed by the recent bounce.
That being said, is this a confirmation of a continuation to $80,000?
The price gained some strength soon after the RSI showed a bullish divergence and bounced off the 38.71 range. This provided bullish confirmation and an initial confirmed path towards $75,000, but the actual target is $80,000.
Fortunately, whales showed interest soon after the bounce, thus reinforcing the uptrend. Currently, the bull run seems to be imminent, but the BTC price needs to maintain above $66,000 for the rest of the month.
With the price surging above the critical resistance of $63,800, the possibility of forming a new ATH above $75,000 becomes quite apparent. However, the bears still seem to be stationed in the range between $71,300 and $73,800.
As a result, the bulls have consistently failed to break through the strong barrier. Therefore, the Bitcoin price is seen to maintain a healthy upward consolidation towards higher highs.
While the declining volume is causing some concerns, the bulls are still waiting for a breakout of the critical range, above which the buying volume could intensify, leading to an uninterrupted bull run towards $100,000.
Again, we are ready for the halving.
Observation: omni, bome, sol, ena ...... The time is not right yet.
When it is, I will say #新币挖矿omni #Meme
Specifically, follow me into Niu Village🌹#大盘走势 #WIF
If you come to me, I will take you ashore, just lie down,
Friends who deduct 8 in the comment area will take you into Niu Village! (Free)
Lao Li will not let Lao Li's fans miss out in this bull market! This is the truth
