Bitcoin’s (BTC) price analysis by Coinidol.com. BTC price has fallen three times before recovering above $58,000.
BTC Price Long-Term Prediction: BearishOn the upside, if the BTC price recovers above $60,000, it will resume its positive trend. However, if Bitcoin falls below the $58,000 support level, it is likely to decline further towards $50,000.
Technical indicatorsKey supply zones: $120,000, $125,000, $130,000
Key demand zones: $80,000, $75,000, $70,000
BTC Price Indicator AnalysisLong candlestick tails around the $58,000 support level signal strong buying pressure there. The 21-day SMA is below the 50-day SMA and sloping downwards. On the 4-hour chart, the cryptocurrency price is below the moving average lines, and the 21-day SMA is capping any upward move. Bulls and bears are struggling to push the price decisively below or above the 21-day SMA level.
Disclaimer. This analysis and forecast are the personal opinions of the author. The data provided is collected by the author and is not sponsored by any company or token developer. This is not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by Coinidol.com. Readers should do their research before investing in funds.
