20 May Bitcoin price prediction: Bitcoin continues to consolidate around $44,000, push higher today?
Markets have been quite volatile over the past few days, with Bitcoin plunging to $39,000 and then almost immediately flying back to $42,000. Although the digital currency remains overvalued for now, long-term investors can rest assured that Bitcoins will eventually find their footing. (On the bright side, Bitcoin’s market cap is still $3.5 billion lower than it was when the cryptocurrency rocketed to $45,000 last month.)
After the big run-up we saw yesterday, Bitcoin price has consolidated around $44,000. Bitcoin now looks like it is preparing for another leg up and is currently pushing to break above $46,000. Bitcoin has made a series of higher lows, and the trend is starting to look bullish. Blog Post: Bitcoin price prediction: Bitcoin continues to consolidate around $44,000, push higher today? Bitcoin price is consolidating around $44,000, and is starting to show more bullish signs. Bitcoin price pushed higher today, and broke above $46,000 for the first time, and only just retraced. The intraday high was around $46,504, but this is not the highest Bitcoin price reached
It’s been a wild ride for Bitcoin investors this year. The cryptocurrency’s value has been as high as $44,000 and as low as $36,000, and it seems to be staying within a tight range of $43,000-$44,000. Many experts have predicted that the market is due for a big move soon, and some have even said that Bitcoin could reach $100,000 in the next year!. Read more about bitcoin price prediction 2020 and let us know what you think.Summary of the situation
- Last night BTC tested the support level at $43,000.
- Resistance at the $45,000 level remains.
- The next resistance is at the $47,000 level.
The forecast for today’s bitcoin price is bullish as the market continues to hold support around $43,000. Therefore, we expect BTC/USD to move higher in the next 24 hours barring further declines. Crypto-currency heat map. Source: Coin360 Overall, the market traded with relatively calm price dynamics over the past 24 hours. Bitcoin lost 1.15 percent and Ethereum lost 1.67 percent. Among the worst performers, Cardano (ADA) lost 5%. Meanwhile, Litecoin (LTC) is one of the top performers with a gain of 7.3%. BTC/USD opened at $43.571 after a strong bearish close yesterday. BTC/USD has since retested the $43,000 support level and is moving sideways in an increasingly narrow range, suggesting that the market is preparing a base from which to move forward later this week.
Bitcoin price movements in the last 24 hours
The BTC/USD price has varied from $42,207 to $45,812, indicating moderate volatility. Trading volume fell 22.2% to $62.7 billion. Meanwhile, the company has a total market value of about $843 billion, representing a 40% market dominance.
4-hour chart BTC/USD – BTC
On the 4-hour chart, we see that bitcoin is forming a consolidation, from which it could rise again this week. Four hourly chart BTC/USD. Source: TradingView The market as a whole is still declining after hitting a new high of about $65,000 in mid-April. Since then, there have been two sharp downward waves, the first of which resulted in a loss of more than 25%. From there, BTC/USD headed towards resistance at $59,000 and established an important low. In recent days, a new downward push has taken place, resulting in a further 30 point drop. Thus, the movement of the bitcoin price may have completed the formation of an ABC correction pattern. If support comes in later this week, we could see bitcoin move higher in the coming weeks as the bulls regain control. For now, however, the market remains bearish. Support around $43,000 was retested, suggesting that the bears are unable to push the market lower. This should lead to an upward move over the next 24 hours, with the next resistance target at $47,000. From here, the market will likely form a higher bottom from which the bulls will gain momentum towards new all-time highs. Otherwise, if the support at $43,000 does not hold, we will see another decline to $41,000. If this level is reached, bitcoin’s overall price pattern will become increasingly bearish for a few weeks.
Bitcoin Price Forecast: Supplement
The forecast for the bitcoin price is bullish as the price action in the market has reached a consolidation above the $43,000 support level. We therefore expect further gains over the course of the week as the market prepares to recoup some of the weekend’s losses. In anticipation of a further rise in the price of bitcoin, read our guide on how to mine bitcoin links, how to invest in bitcoin, and the best portfolios for 2021. Denial. The information provided does not constitute commercial advice. .com accepts no responsibility for investments made on the basis of information provided on this site. We strongly recommend that you conduct independent research and/or consult a qualified expert before making any investment decision.Bitcoin continues to consolidate around $44,000, push higher today? Bitcoin BTC price is holding the $44,000 mark with support from the bulls, looking to extend gains above $46,000 in the near term. Bitcoin price traded to a new 2019 high at $44,000 and later corrected lower. However, bitcoin managed to hold the $44,000 mark and later started a fresh upside wave. It has moved past $44,000 and is currently trading with a positive bias.. Read more about bitcoin news and let us know what you think.
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