Will Bitcoin rise this year?

in bitcoinvirtual •  2 years ago 

Bitcoin broke through the $24600 threshold, making it in a strong position at the weekend. Last week, it rose 14%. The crypto world has been full of prediction and analysis because people try to decipher whether the bulls have reached the peak, or whether the bears are just resting.
Top experts interrupt
Michael van de Poppe posted a video on YouTube, analyzed the coin, and put forward his views on the subject. Analysts expect that the market will conduct some retests before the current direction continues to soar.
Michael has been optimistic about cryptocurrency since the start of the year, with the price of Bitcoin rising alarmingly. The expert insisted on his prediction that Bitcoin would rise sharply before the middle of the year, although he believed that there would be a certain degree of stability by the end of February.
Michael believes that Bitcoin bulls have not fully controlled the market; However, if the price of "king coin" does not fall below $20000, then the short position of Bitcoin will not be completely controlled. In addition, he said that the price of Bitcoin is unlikely to fall below US $20000 in the short term, or even at any time this year, and again stressed that the current market operation is similar to 2019.
technical analysis
After establishing a support level close to $23325 (equivalent to 50% of Fibonacci withdrawal level), Bitcoin has risen and started to rise. The candles that recently closed above this level triggered the buying trend of Bitcoin, which led to bullish sentiment in the market.
The 50-day moving average helps the possibility that Bitcoin will continue to rise in the foreseeable future. Investors may want to pay attention to the level of $24250 as a possible entry point to establish a long position in Bitcoin. This will enable them to benefit from current trends.
According to my analysis, I expect that $25300 will become the next important obstacle to the upward trajectory of Bitcoin. If the bullish crossover occurs above this level, it has the ability to push the price of Bitcoin up to $26000

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2 years ago by

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