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The Bitcoin price prediction is showing positive signs as the king coin heads to the upside, suggesting further higher levels.
Bitcoin Prediction Statistics Data:
- Bitcoin price now – $97,969
- Bitcoin market cap – $1.95 trillion
- Bitcoin circulating supply – 19.79 million
- Bitcoin total supply – 19.3 million
- Bitcoin Coinmarketcap ranking – #1
Bitcoin (BTC) has experienced remarkable growth since its all-time low of $0.04865 on July 14, 2010, marking an astonishing rise of 201,351,943.94%. As of November 22, 2024, Bitcoin price fluctuated between $94,711.16 and $97,929.68 in the last 24 hours, with a -1.71% decrease over the past week. The all-time high for Bitcoin stands at $99,655.50, highlighting its significant price performance and growth since its early days.
BTC/USD Long-term Trend: Bullish (Daily Chart)
Key levels:
Resistance Levels: $110,000, $115,000, $120,000
Support Levels: $85,000, $80,000, $75,000
According to the daily chart, BTC/USD is trading in a defined consolidation pattern, with support holding near $95,000 and resistance at $97,000. While the market has shown resilience at these levels, the lower boundary of the range may still be tested, especially if trading volume continues to wane. The possibility of a sustained bullish breakout remains slim in the short term without an uptick in volume. However, there is potential for localized bullish momentum within this consolidation, but distinguishing between transient and genuine rallies will be challenging without fundamental market changes.
Bitcoin Price Prediction: Where is Bitcoin Price Going Next?
For Bitcoin to break out of its current range, it would need to surpass resistance levels around $97,000 to $98,000 with a notable increase in volume. A failure to do so could see prices testing lower support levels, potentially dipping to $93,000 to $94,000. However, the probability of a prolonged downtrend appears low under current conditions. The overall sentiment remains cautiously optimistic, but a sustained rally toward the $100,000 mark requires fresh momentum, likely tied to external macroeconomic or crypto-specific developments.
However, the Bitcoin price could be heading toward the upper boundary of the channel as the price establishes a new bullish signal. At the moment, traders could say that the long-term outlook favors the bulls, crossing above the 9-day moving average with eyes now set on the daily resistances at $110,000, $115,000, and $120,000 respectively. On the contrary, any drop from the current level could lead to declines in the critical support below the moving averages. However, in case BTC drops and revisits the low of $95k support, then the coin can rely on the long-term support levels at $85,000, $80,000, and $75,000.
BTC/USD Medium-term Trend: Bullish (4H Chart)
The 4-hour chart reveals that the Bitcoin price is hovering above the 9-day and 21-day moving averages at $98.055.70. However, BTC/USD could begin to maintain its bull run as the technical indicator’s 9-day moving average remains above the 21-day moving average.
On the contrary, the king coin may take a downward move if the bulls fail to push the price higher, and the coin may breach below the 9-day and 21-day moving averages, which could hit the support at $93,000 and below. Nevertheless, if the bulls find a decent resistance level of above $98,000, the king coin may cross above the channel which could hit the resistance level of $102,000 and above.
Meanwhile, @GertvanLagen shared analysis with his followers on X (formerly Twitter) regarding $BTC [1W], noting that the price has broken parabolically out of Base 4, confirming the setup for a potential target zone of $220k-$320k. He highlighted that the blow-off wave 5 within (5) within ⑤ has begun, marking full validation of the bullish movement.
$BTC [1W] – Update on the step-like formation.
Price has broken parabolically out of Base 4, validating the setup to reach the $220k-$320k target zone.
Blow-off wave 5 within (5) within ⑤ has started, full validation!
Keep laughing at me 😋 pic.twitter.com/GIwq5D9lEK
— Gert van Lagen (@GertvanLagen) November 11, 2024
Alternatives to Bitcoin
Bitcoin’s technical and fundamental outlook suggests that consolidation will persist in the near term, with no immediate signs of a major breakout. The next major trend will likely depend on a resurgence of trading activity or significant external events capable of sparking renewed investor interest. However, the presale of Pepe Unchained, a new cryptocurrency token, is generating significant interest, with whales making large transactions, such as $140,000 and $120,000 in single purchases. This meme coin has already raised $58.3 million in presale funds, attracting both retail and institutional investors due to its high utility, sound tokenomics, and strong branding around Pepe the Frog.
Pepe Unchained Could Launch Sooner Than Expected – Demand Is Exploding
With its already impressive presale performance, raising over $58 million, the token is poised to benefit from the increasing demand for meme coins and the growing interest in blockchain-based projects. By offering no buy or sell taxes, a decentralized exchange, staking rewards, and plans for major exchange listings, Pepe Unchained stands out as a promising investment in the next crypto bull market. Don’t miss the chance to be part of this exciting project and potentially capitalize on significant returns as the token continues to gain momentum.
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