Currently, Bitcoin ($BTC ) is priced at $93,679, reflecting a slight decrease of -1% over the past 24 hours. Historical data shows that, on 52.89% of days, BTC has closed above its opening price. The highest recorded price for Bitcoin in recent days was $106,744, 13 days ago, meaning it has fallen by -12.24% since that peak.
Technical analysis is signaling a short-term bullish sentiment. Of the 17 indicators analyzed, 8 suggest buying, while 8 recommend selling.
๐๐ก๐ ๐ค๐๐ฒ ๐ซ๐๐ฌ๐ข๐ฌ๐ญ๐๐ง๐๐ ๐ฅ๐๐ฏ๐๐ฅ ๐ญ๐จ ๐ฐ๐๐ญ๐๐ก ๐๐จ๐ซ ๐๐ข๐ญ๐๐จ๐ข๐ง
is at $94,381. A close above this level would signal further upward movement, with the next target resistance at $99,449. Conversely, if the price dips below the support level of $90,907, Bitcoin could see additional downside pressure.
๐๐ฎ๐ซ๐ซ๐๐ง๐ญ๐ฅ๐ฒ, ๐ญ๐ก๐ ๐๐-๐๐๐ฒ ๐๐๐ฅ๐๐ญ๐ข๐ฏ๐ ๐๐ญ๐ซ๐๐ง๐ ๐ญ๐ก ๐๐ง๐๐๐ฑ (๐๐๐) ๐ฌ๐ข๐ญ๐ฌ ๐๐ญ ๐๐.๐๐
signaling that Bitcoin is in oversold territory, which often precedes a price rebound in the near future. The weekly RSI, at 63.48, reflects a more balanced market condition. Looking at historical trends, Bitcoin has ended December higher than the starting price in 5 out of the last 12 years, with October being the best month for BTC, as it closed higher than the start price 10 times in the last 12 years. Conversely, August has been historically weaker, with the price falling in 8 out of 12 years.
As for price projections, we anticipate that Bitcoin could reach $96,423 within the next 10 days. Over the long term, our forecasts suggest Bitcoin could hit $221,485 by 2025 and rise to $369,701 by 2030. Looking even further ahead, by 2040, Bitcoin's price could potentially reach $1,018,422, based on historical trends and predictive models.
