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.
𝐓𝐡𝐞 𝐤𝐞𝐲 𝐫𝐞𝐬𝐢𝐬𝐭𝐚𝐧𝐜𝐞 𝐥𝐞𝐯𝐞𝐥 𝐭𝐨 𝐰𝐚𝐭𝐜𝐡 𝐟𝐨𝐫 𝐁𝐢𝐭𝐜𝐨𝐢𝐧
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.
𝐂𝐮𝐫𝐫𝐞𝐧𝐭𝐥𝐲, 𝐭𝐡𝐞 𝟏𝟒-𝐝𝐚𝐲 𝐑𝐞𝐥𝐚𝐭𝐢𝐯𝐞 𝐒𝐭𝐫𝐞𝐧𝐠𝐭𝐡 𝐈𝐧𝐝𝐞𝐱 (𝐑𝐒𝐈) 𝐬𝐢𝐭𝐬 𝐚𝐭 𝟐𝟒.𝟓𝟐
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.