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Bitcoin: price prediction 2024-2030

After a detailed technical analysis of Bitcoin’s current position, a cautious inclination towards a bearish trend emerges. Currently, Bitcoin is slightly above the $26,500 support level, which was a formidable resistance in the past. It maintains a relatively stable position just above the $26,800 resistance, indicating the possible formation of a double-top pattern.

The Bitcoin price chart shows an important aspect to note: a descending trend line around $26,750, which could act as an obstacle to Bitcoin’s upward movement. If Bitcoin succeeds in breaking this trend line, it could aim for $27,000. Beyond this threshold, the $27,600 level represents significant resistance, and exceeding it could potentially pave the way to the $28,000 milestone
.

On the other hand, if Bitcoin fails to cross the $26,750 trendline, it could retrace its steps to $26,600 or, in a more bearish perspective, test the $26,000 support level. Such a retracement could trigger additional selling pressure, potentially bringing the price to around $25,250
.

Importantly, several technical indicators, such as the 50-day exponential moving average and the relative strength index, indicate the possibility of imminent bullish momentum. Investors should remain vigilant about the $26,500 level, as it could be a crucial point. Prices above this level may indicate favorable buying signals, while prices below may suggest a trend towards selling signals
.

Looking ahead to next week, various fundamental economic events could influence Bitcoin’s price dynamics, given the cryptocurrency’s correlation with macroeconomic factors. In particular, on Wednesday, September 20, all eyes will be on the Federal Reserve as it announces its Federal Funds Rate, currently set at 5.50%. At the same time, market observers will wait with interest for the FOMC’s economic projections, its statement and the next press conference scheduled for 18:30. The position adopted by the Federal Reserve, whether it is accommodative or restrictive, could trigger significant volatility in traditional markets, a phenomenon that
often also affects the cryptocurrency market.

Moving on to Thursday, September 21, there will be data on unemployment claims, with analysts predicting a slight increase to 222,000 compared to the previous figure of 220,000.

Finally, on Friday, September 22, the Flash Manufacturing PMI and Flash Services PMI will be published, expected at 47.9 and 50.8 respectively. These indices offer valuable information on overall economic health and, if they deviate significantly from expectations, can indirectly influence the price of Bitcoin, affecting
market sentiment.

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