Monday, January 25, 2021
Bitcoin Market News
  • Home
  • Bitcoin
  • Market
  • Cash
  • Price
  • Beginners
  • Gold
  • Private
  • Cryptos
  • Investors
  • Technical
  • Crash
  • Spam
  • Stock
  • Blockchain
  • Videos
  • Home
  • Bitcoin
  • Market
  • Cash
  • Price
  • Beginners
  • Gold
  • Private
  • Cryptos
  • Investors
  • Technical
  • Crash
  • Spam
  • Stock
  • Blockchain
  • Videos
Bitcoin Market News
No Result
View All Result

Bitcoin Forecast: Likely to Continue Rising

7 months ago
in Technical
2 min read
Bitcoin Forecast: Likely to Continue Rising
Share on FacebookShare on Twitter


While I do think that it is going to be very noisy and difficult, I believe that ultimately Bitcoin continues to go higher, and it is likely that traders will continue to look at this as a “one-way bad” over the longer term. 

Bitcoin traders bond during the trading session on Wednesday as we continue to grind across the 50 day EMA and the uptrend line that makes of the larger ascending triangle. For this reason, the market looks highly likely to find buyers down at this area. Also, the fact that it is hovering around the $9000 level, an area that is a large, round, psychologically significant figure. Therefore, it is more than likely going to bounce a bit from here as we are in an uptrend and it is likely that the devaluation of fiat currency will continue to help the value of Bitcoin rally.

Looking at the chart, the market has plenty of technical reasons to bounce, but quite frankly with so much in the way of central banks stimulus out there, it makes sense that traders will try to find other assets. Bitcoin continues to work as a way to hide money away from that type of wealth destruction, so at this point it makes sense that we are going to continue to go towards the $10,000 level eventually. That is the major round figure just waiting to be tested and extends all the way to the $10,500 level. At this point, the market is likely to show signs of selling pressure in that general vicinity, and I think that if we break above the $10,500 level, it is likely that we could go to the $12,000 level.

To the downside, if we break down below the 50 day EMA, and perhaps the hammer from the Monday session, then it is likely that we go down towards the 200 day EMA after that. I do not have any interest in shorting this market, and I think that if we pull back it is likely that people will simply look at that as a potential value play. While I do think that it is going to be very noisy and difficult, I believe that ultimately Bitcoin continues to go higher, and it is likely that traders will continue to look at this as a “one-way bad” over the longer term. As far as selling is concerned, we need to break down below at least the $8000 level before we could even have that conversation. Ultimately, buying on the dips has continued to work for some time and I think that is not going to change anytime soon.

BTC/USD





Read more:Bitcoin Forecast: Likely to Continue Rising

Related articles

As Crypto Market Sentiment Sinks Lower, Polkadot Takes the Crown

As Crypto Market Sentiment Sinks Lower, Polkadot Takes the Crown

January 25, 2021
Bitcoin, Ethereum Outlook: ETH Poised to Outperform BTC in Near Term

Bitcoin, Ethereum Outlook: ETH Poised to Outperform BTC in Near Term

January 25, 2021
Tags: Bitcoinbitcoin news todaycontinueForecastRising

Related Posts

As Crypto Market Sentiment Sinks Lower, Polkadot Takes the Crown

As Crypto Market Sentiment Sinks Lower, Polkadot Takes the Crown

by Bitcoin Market
January 25, 2021
0

Source: iStock/Koonsiri BoonnakThe volatility is holding the market in a firm grip, as the market sentiment drops further within...

Bitcoin, Ethereum Outlook: ETH Poised to Outperform BTC in Near Term

Bitcoin, Ethereum Outlook: ETH Poised to Outperform BTC in Near Term

by Bitcoin Market
January 25, 2021
0

Bitcoin, Ethereum, Cryptocurrencies, BTC/ETH Ratio, Technical Analysis – Talking Points:Ratio analysis suggests that Ethereum will continue to outperform Bitcoin...

Week Ahead: Post-Inaugural Rally To Endure On Earnings Results; Bitcoin Higher |

Week Ahead: Post-Inaugural Rally To Endure On Earnings Results; Bitcoin Higher |

by Bitcoin Market
January 24, 2021
0

Tech sector makes a comeback on worsening economic outlook Earnings releases could provide market boost in the week ahead...

Wen? Now! BadgerDAO’s synthetic rebasing Bitcoin, DIGG, goes live By Cointelegraph

Wen? Now! BadgerDAO’s synthetic rebasing Bitcoin, DIGG, goes live By Cointelegraph

by Bitcoin Market
January 24, 2021
0

Wen? Now! BadgerDAO’s synthetic rebasing Bitcoin, DIGG, goes live After weeks of anticipation and a closely-watched series of preparatory...

Bitcoin Price Forecast: Rally In Bitcoin, Cryptocurrencies Unlikely To Hold Through

Bitcoin Price Forecast: Rally In Bitcoin, Cryptocurrencies Unlikely To Hold Through

by Bitcoin Market
January 23, 2021
0

Bitcoin Price Forecast: Rally In Bitcoin, Cryptocurrencies Unlikely To Hold Through Weekend Exchange Rates UK Read more:Bitcoin Price...

Load More

Trend Now

  • Trending
  • Comments
  • Latest
Twitch Director Shaan Puri Moves 25% of Net Worth Into Bitcoin to ‘Front Run Wave of

Twitch Director Shaan Puri Moves 25% of Net Worth Into Bitcoin to ‘Front Run Wave of

December 11, 2020
Ledger Wallet Data Leak Dumped on Raidforums for Free, Company Regrets the Situation

Ledger Wallet Data Leak Dumped on Raidforums for Free, Company Regrets the Situation

December 21, 2020
Argo Blockchain boosts mining margins in July

Argo Blockchain boosts mining margins in July

August 5, 2020
J.K. Rowling Twitter Storm shows the Crypto Ecosystem Needs to Mature – CityAM

J.K. Rowling Twitter Storm shows the Crypto Ecosystem Needs to Mature – CityAM

May 19, 2020
Three Gorges Dam Collapse Mining Threat, China Banks Ban Buying Gold: The Bitcoi…

Three Gorges Dam Collapse Mining Threat, China Banks Ban Buying Gold: The Bitcoi…

December 4, 2020
The Most Secure Cryptocurrency Wallets for Different Users

The Most Secure Cryptocurrency Wallets for Different Users

November 1, 2020
How Lightning Network Scales For The World – Lightning Network Explained

How Lightning Network Scales For The World – Lightning Network Explained

0
Bitcoin daily chart alert – Bullish chart pattern develops – May 19

Bitcoin daily chart alert – Bullish chart pattern develops – May 19

0
Calvin Ayre Invests in True Reviews: A New Take on Consumer Review Sites Built on the

Calvin Ayre Invests in True Reviews: A New Take on Consumer Review Sites Built on the

0
J.K. Rowling Twitter Storm shows the Crypto Ecosystem Needs to Mature – CityAM

J.K. Rowling Twitter Storm shows the Crypto Ecosystem Needs to Mature – CityAM

0
Crypto.com’s MCO Visa Cards Are Now Shipping In Europe – Fintech Singapore

Crypto.com’s MCO Visa Cards Are Now Shipping In Europe – Fintech Singapore

0
Elon Musk tried to explain Bitcoin to JK Rowling on Twitter and this happened

Elon Musk tried to explain Bitcoin to JK Rowling on Twitter and this happened

0
How Lightning Network Scales For The World – Lightning Network Explained

How Lightning Network Scales For The World – Lightning Network Explained

January 25, 2021
Oil and gold pare early gains, bitcoin rebounds – MarketPulse

Oil and gold pare early gains, bitcoin rebounds – MarketPulse

January 25, 2021
CFTC Attorney Who Let Regulators Trade Crypto Joins Private Law Firm

CFTC Attorney Who Let Regulators Trade Crypto Joins Private Law Firm

January 25, 2021
Calvin Ayre Invests in True Reviews: A New Take on Consumer Review Sites Built on the

80% of White Respondents Are Aware of Bitcoin Compared to 66% of Hispanics and 61% of

January 25, 2021
Bitcoin price rises as second-biggest cryptocurrency ether hits all-time high

Bitcoin price rises as second-biggest cryptocurrency ether hits all-time high

January 25, 2021
DDoS Attackers Return With Massive Extortion Campaigns in the Wake of Bitcoin Prices

DDoS Attackers Return With Massive Extortion Campaigns in the Wake of Bitcoin Prices

January 25, 2021
  • Contact Us
  • Terms of Use
  • Cookie Privacy Policy
  • Privacy Policy
  • DMCA

© 2020 MarketForBitcoin.com

No Result
View All Result
  • Home
  • Bitcoin
  • Market
  • Cash
  • Price
  • Beginners
  • Gold
  • Private
  • Cryptos
  • Investors
  • Technical
  • Crash
  • Spam
  • Stock
  • Blockchain
  • Videos

© 2020 MarketForBitcoin.com


    Warning: Invalid argument supplied for foreach() in /home/marketforbitcoin/public_html/wp-content/plugins/cryptocurrency-pricing-list/inc/ccpw_frontend_ticker.php on line 162