Bitcoin price prediction: Bitcoin continues to set higher lows, ready to break $40,000? Bitcoin has a long way to go before hitting $40k. As of today, Bitcoin is trading at about $3,200, having set a new all-time high of about $5,000 just a few weeks ago. Bitcoin remains on a long-term downtrend, with its price currently being driven by other less established crypto assets.
Bitcoin is clearly making a run at the current resistance level of $40,000, so what now? We recently reached a high of $44,500 (as in the last week of April) with a price decrease of roughly $2,000 per day since then. We could see a more significant drop, however, if the recent downward trend in Bitcoin price continues. It is important to remember, though, that Bitcoin has been on a pretty steady decline for the last half-year, so it’s not impossible that we could see some more significant price dips.
It’s time for another installment of “What’s the Bitcoin price gonna do next?” It looks like we’re in the 14th cycle of this, going back to mid-July. The last time the Bitcoin price was below $40,000, we had a very brief drop to around $35,000, followed by a rebound to above $40,000. (And we’re still waiting for that last time it dropped below $40,000!) So, what does the future hold?. Read more about bitcoin price correction and let us know what you think. Summary of the situation
- Yesterday, the BTC pulled back.
- Support is at $36,000.
- The next installment is $40,000.
The outlook for today’s bitcoin price is bullish as the market continues to post higher lows and bulls prepare to finally take the market back above $40,000. Once the $40,000 level is broken, we can expect BTC/USD to head towards its previous all-time high. Crypto-currency heat map. Source: Coin360 The general market is trading in the green today. Bitcoin was up 3 percent and Ethereum was up 4.87 percent. At the same time, Dogecoin leads the way with 22.7% growth. BTC/USD opened at $36.684 after yesterday’s bearish close. Today we saw the bitcoin price find support around the $36,000 level, which means we can expect a further rise in the next 24 hours. The next target is $42,000, the achievement of which would mean a 13% profit at the current BTC/USD rate.
Bitcoin price movements in the last 24 hours
The BTC/USD price moved in a range of $35,787 – $37,479, indicating moderate volatility. Trading volume fell 9% in 24 hours to $32.877 billion. The total market capitalization is $699 billion, resulting in a market dominance of 41.85%.
4-Hour Chart BTC/USD – BTC moves away from $36,000 support.
On the 4-hour chart, we see that bitcoin tested the $36,000 support level last night and is now preparing to move towards the $40,000 level. Four hourly chart BTC/USD. Source: TradingView Overall market momentum has resumed an uptrend after several weeks of decline since the previous high at $60,000. With the bitcoin price unable to move lower and having set several higher lows, we should finally see BTC/USD set a high above $41,000 resistance in the coming days. From here, BTC/USD will likely head for the next key resistance at $47,000 and pull back to confirm a trend reversal. After hitting a low, bitcoin will see a much stronger bullish move in the coming weeks. However, as the market continues to move in an increasingly tight range, we recommend sitting on the sidelines and waiting to see how the bitcoin price movement continues.
Bitcoin Price Forecast: Supplement
The forecast for the bitcoin price is bullish as the market has set several higher lows in recent days and is now preparing for the next big bullish push with the next breakout target at $42,000. In anticipation of another bitcoin price hike, read our latest guide on how to buy Cardano, mine Zcash, and how many bitcoins are left to mine. 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.It’s been a wild ride since the cryptocurrency’s all-time-high in December 2017, and it hasn’t slowed down yet. Bitcoin’s price has been trading in a tight range around $4,000 for weeks, and that continues to make volatility a huge part of the cryptocurrency’s market action. After months of climbing higher, the Bitcoin price is now finding new lows, as the cryptocurrency struggles to break out of its recent range.. Read more about will bitcoin go up after stimulus and let us know what you think.
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