Bitcoin price prediction Where is the next target as BTC forms bullish chart pattern?

Bitcoin (BTC) is showing promising signs of a bullish trend as it forms a pattern on the price chart called “three white soldiers,” which consists of three consecutive bullish candlesticks. This pattern suggests that there could be a potential reversal from a downtrend to an uptrend. Additionally, BTC has successfully crossed above a downward trendline at $26,400, further strengthening its bullish case. The relative strength index (RSI) and moving average convergence divergence (MACD) indicators are both in the buying zone, indicating a positive outlook for Bitcoin’s price. Traders and investors are now eagerly anticipating the next target for BTC as it continues its upward trajectory.

Bitcoin Price

Bitcoin is currently trading at $26,921, exhibiting a nearly 2% increase over the past 24 hours. With a trading volume of $13.2 billion, BTC continues to hold its position as the top-ranked cryptocurrency on CoinMarketCap. Its live market capitalization stands at $522.4 billion. Currently, 19,407,018 BTC coins are in circulation, out of a maximum supply of 21,000,000 BTC coins.

Bitcoin Price Prediction

Looking at the technical side of Bitcoin, the sentiment has shifted from bearish to bullish ever since it bounced off the major support level at $24,750. In the four-hour timeframe, the BTC/USD pair has formed a bullish pattern called “Three White Soldiers,” indicating a continuation of the upward trend. BTC closed candles above the previous resistance of around $36,150. The 50-day exponential moving average is providing support around $26,300. The relative strength index (RSI) and moving average convergence divergence (MACD) are also in the bullish zone, supporting a continuation of the uptrend in BTC. Currently, the immediate resistance is at $27,000, and a break above this level has the potential to push the Bitcoin price toward the next resistance level at $27,400 or $27,700. On the downside, support can be found at around $26,600; below that, $26,200 is likely to act as a strong support level. The $37,000 level may act as a pivot point for today.

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