Bitcoin Price Prediction:
Short-term: The price of Bitcoin is currently trading near the 20-day moving average (MA) of 61,425.55. If the price can break above this level, it could signal a bullish trend and a potential move towards the 10-day MA of 61,969.12. However, if the price falls below the 20-day MA, it could indicate a bearish trend and a potential move towards the 200-day MA of 60,539.95.
Long-term: The long-term trend of Bitcoin remains bullish, as evidenced by the upward slope of the 200-day MA. However, there is also a risk of a short-term correction, especially if the price fails to break above the 10-day MA.
Resistance Levels:
Strong resistance: 62,484.85 (24-hour high)
Weak resistance: 61,969.12 (10-day MA)
Support Levels:
Strong support: 60,539.95 (200-day MA)
Weak support: 61,425.55 (20-day MA)
Disclaimer: These are just predictions based on technical analysis, and the actual price of Bitcoin could move in any direction. It is important to do your own research and consult with a financial advisor before making any investment decisions.
