Bitcoin(BTC) Price Analysis: These May be the Price Targets for the Weekend

Bitcoin(BTC) Price Analysis: These May be the Price Targets for the Weekend

btcbulls

The post Bitcoin(BTC) Price Analysis: These May be the Price Targets for the Weekend appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide

Bitcoin(BTC) pierce at the press time is trading around $23,088.04 with a drop of 1.82% in the past 24 hours. While the asset has recorded marginal gains in the past 7 days of 0.24% and surged more than 17.93% in the past 30 days. The market cap is also heading strongly towards $450 billion, currently residing at $441.25 billion with a daily trading volume of $24.36 billion.

Bitcoin (BTC) Price Analysis

BITCOIN
  • BTC price ever since dropped hard during the mid-June rebounded and trading within ascending parallel channel
  • The asset experienced a couple of rejections, in attempting to breakout form the parallel consolidation
  • However, the asset appears to have halted just before reaching the middle bands of the channel and hence may flip and reach the resistance close to $25,000 until the weekend
  • As the price reaches close to these levels, the fear of rejection may haunt the rally and hence if the bulls maintain their stability, then the asset may bounce back after a brief pullback
  • Therfore, by the end of the week, the BTC price is expected to surge beyond the local highs at $24,600

Bitcoin (BTC) Technical Analysis

Technical Indicators

Technical Indicators Value(STF/HTF) Action (STF/HTF)
Relative Strength Index(RSI) 44.18 / 53.38 Sell / Neutral
MACD -47.10 / 515.6 Sell / Buy
Average Directional Index(ADX) 33.79 / 18.45  Buy / Neutral
Average True Value(ATR) 158.79 / 1009.29 Less Volatility / Less Volatility
Bull-Bear Power 31.33 / 421.20  Buy / Buy

Pivotal Levels

Pivotal Levels Short Term Long Term
Resistance $23,547.12 $24,206
Support $22,682.42 $20,691
Moving Average(MA)-50 $23,804.9 $21,343.3
Moving Average(MA)-200 $23,303.3 $33,657.8

Bitcoin’s (BTC) price is extremely bearish in the short term as most of the indicators are pointing towards a ‘Sell’ signal. However, the asset is expected to stabalize in the next couple of weeks as the long-term projections display a neutral behaviour.

Did you like this?
Tip Bitcoin Tradeboard with Cryptocurrency

Donate Bitcoin to Bitcoin Tradeboard

Scan to Donate Bitcoin to Bitcoin Tradeboard
Scan the QR code or copy the address below into your wallet to send some bitcoin:

Donate Bitcoin Cash to Bitcoin Tradeboard

Scan to Donate Bitcoin Cash to Bitcoin Tradeboard
Scan the QR code or copy the address below into your wallet to send bitcoin:

Donate Ethereum to Bitcoin Tradeboard

Scan to Donate Ethereum to Bitcoin Tradeboard
Scan the QR code or copy the address below into your wallet to send some Ether:

Donate Litecoin to Bitcoin Tradeboard

Scan to Donate Litecoin to Bitcoin Tradeboard
Scan the QR code or copy the address below into your wallet to send some Litecoin:

Donate Monero to Bitcoin Tradeboard

Scan to Donate Monero to Bitcoin Tradeboard
Scan the QR code or copy the address below into your wallet to send some Monero:

Donate ZCash to Bitcoin Tradeboard

Scan to Donate ZCash to Bitcoin Tradeboard
Scan the QR code or copy the address below into your wallet to send some ZCash: