…will it make it this week?
Bitcoin price after dumping below $44,000, bounced back and slashed through the upper resistance levels to head towards $48,000.
$60K could be the next stop for Bitcoin price, analysts say. But will it make it this week? Indicators are tilted toward tempting to predict that Bitcoin price could pull another leg up to pierce through the $50000 levels in the coming week or in the next couple of days.
The upcoming surge could lead the price towards the ATH somewhere above $60,000 in case the resistance levels around $50,000 is attained
Bitcoin price after dumping below $44,000, bounced back and slashed through the upper resistance levels to head towards $48,000. The assets are currently consolidating above $47500, preparing for the next movement. The possibility of the BTC price surging close to $50K appears to be high.
Following a couple of steep setbacks, the price is following a steady approach. It consolidates after each jump for a while before pulling the next leg. But currently, it is hard to say the direction of the leg as the asset has recorded both pumps and dump after consolidation. However, the possibilities of the price hitting $60,000 are also on cards.
A popular analyst AlanSantana, predicts the asset is ready to bounce to the levels above $60,000 with the next move. As displayed in the chart put up by the analyst, the price has formed new higher support levels and rebounds well. The 200-day MA levels could be deciding yet again, as it is acting as strong support levels.
Bitcoin moved above these levels which was followed by a quick retrace a couple of days ago. And with the start of the fresh day trade, it yet again appeared to be bullish with strong indicators as support. Moreover, the daily close over the 200-day MA with a huge green candle points out towards a massive rally waiting ahead.
Collectively, the bitcoin price remains pretty bullish as it stands strongly above $47,500 comfortably. Also with the weekend boost, the buying pressure could also jump relatively assisting the rally to move towards the north close to $60,000.