Bitcoin Price Prediction: As The Vortex Indicator Signals A New BTC Bull Run, Time Is Running Out To Buy This Red Hot Bitcoin Alternative That's Surged Past $5.6 Million

Bitcoin Price Prediction: As The Vortex Indicator Signals A New BTC Bull Run, Time Is Running Out To Buy This Red Hot Bitcoin Alternative That’s Surged Past $5.6 Million

ByLockridge Okoth

Updated: 21 December 2023

Disclosure

Don’t invest unless prepared to lose all the money you invest. This is a high-risk investment, you shouldn’t expect to be protected if something goes wrong.

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Bitcoin price is up 2% in the last 24 hours to trade for $43,650 as of 1:40 a.m. EST time, with trading volume rising 35%.

According to analysts, the king of cryptocurrency showing strength could bode well for altcoins, including Solana (SOL).

Yea aslong as btc can build support above 44.2k
Everything will continue to fly

— SLIM (@ShadyTheWizard) December 20, 2023

Bitcoin price continues to defy expectations, steadily moving north despite some bearish predictions from traders.

Everyday I see Bearish #BTC predictions.

Everyday the #Bitcoin price keeps going up.

The denial is real ✅

— Kevin Svenson (@KevinSvenson_) December 21, 2023

Amidst the mixed feelings, pseudonymous crypto strategist TechDev says Bitcoin price is displaying one of the most rare and accurate bullish signals.

A rare #bitcoin buy signal which has never missed. pic.twitter.com/umcSxh4jK3

— TechDev (@TechDev_52) December 16, 2023

Based on TechDev’s analysis, the Vortex Indicator (VI) is once again signaling the start of a Bitcoin bull market. For the layperson, this technical indicator helps to identify trend reversals as well as confirm prevailing trends. In the analyst’s monthly chart for the BTC/USD trading pair, the VI indicator has a history of identifying the onset of a bull market accurately in three past cycles and may be doing the same for the fourth time now.

In his opinion, a new all-time high may also be in the works for the Bitcoin price based on the recent strong performance of the Dow Jones Industrial Average (DJI).

New all-time-high on the Dow Jones today.

Wonder what’s next. #Bitcoin pic.twitter.com/g2UuqIYTrA

— TechDev (@TechDev_52) December 13, 2023

Bitcoin Price Outlooks With Analysts Predicting Strong Bull Runs

Bitcoin price is confronting the $44,200 level, which analysts say is critical to propelling altcoins north. From a technical standpoint, the odds favor the upside, with the 50-, 100-, and 200-day Simple Moving Averages (SMAs) at $39,032, $33,884, and $31,092 inclined north to show this was the path with the least resistance.

The Relative Strength Index (RSI) is also northbound, after crossing above the signal line (yellow) band. This crossover is deemed bullish, interpreted as a buy signal. If traders heed, the Bitcoin price could extend its uptrend.

Also accentuating the bullish outlook is the position of the Awesome Oscillator (AO) and the Moving Average Convergence Divergence MACD in the positive territory to show the bulls are in the lead.

Increased buying pressure above current levels could see Bitcoin price rise, flipping the $44,200 ceiling into a support floor, and potentially using it as the jumping-off point for more gains.

Further north, Bitcoin price could extend the gains to tag the $44,700 range high or in a highly bullish case, extend a neck high to the $48,000 psychological level. Such a move would constitute a 10% climb above current levels.

Converse Case

On the flip side, if the $44,200 level holds as resistance, Bitcoin price could drop below the $40,000 psychological level. If this level breaks, the king of crypto could find support around the 50-day SMA at $39,028.

In the dire case, the slump could see Bitcoin price break below the $37,800 support level, sending BTC to a cliff towards the $30,000 psychological level. A daily candlestick close below this level would invalidate the bullish thesis.

Meanwhile, all eyes are turning to 2024, a year that has critical events lined up for the BTC market. To begin with, there is the expectation for spot BTC exchange-traded funds (ETFs) approvals from the US Securities and Exchange Commission next month, which would precede the launch of the products shortly after.

🚨BREAKING News: Bloomberg analysts Eric Balchunas and James Seyffart raise spot #Bitcoin ETF approval odds to 90% by January 10th🔥 pic.twitter.com/98RvrY5EoJ

— Oscar Ramos (@realOscarRamos1) October 13, 2023

In the same year, the market is looking towards the BTC halving, another event expected to help kickstart the next bull cycle.

Upgrade, halving, and a BlackRock spot ETF. 😮

2024 is Bitcoin's year! 🙌 https://t.co/arA18mBemr

— Altcoin Daily (@AltcoinDailyio) December 21, 2023

With this optimism and the anticipated pump in the Bitcoin price ahead of these events, now is the ideal time to buy BTC. Nevertheless, there is no second thought to the fact that Bitcoin is currently not affordable to everyone. Do not fret, as BTCMTX makes BTC ownership achievable even for the ordinary folk.

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Ensuring ease like never before. 🔐🚀 #BTCMTX #BTCMining pic.twitter.com/39lv7rYffz

— Bitcoinminetrix (@bitcoinminetrix) December 14, 2023

Bitcoin Minetrix presale is still underway, with upwards of $5.641 million already in the bag out of a target objective of $6.258 million.

#BitcoinMinetrix has successfully raised more than $5,400,000! 🪙 pic.twitter.com/eD8FvCkXJQ

— Bitcoinminetrix (@bitcoinminetrix) December 19, 2023

Investors looking to buy BTCMTX can do so on the website, where tokens sell for $0.0123. This price tag will only hold for less than another day before a hike. Take advantage of the time left to buy BTCMTX when it is still affordable.

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