Bitcoin Price Prediction

 

In our last Bitcoin price forecast , we already explained to you which levels you should pay attention to. There we wrote that for us to have a bullish breakout, bitcoin price needs to break the $45,570 resistance. However, the price then failed to test the resistance and is now at the $40,600 support. But how could the Bitcoin course continue and why should one invest in Bitcoin soon?

Bitcoin price at support – will it break?

We anticipate bitcoin price to break the $40,600 support for a short while. Meanwhile, however, the price could drop to the GoldenPocket and find support there. This GoldenPocket is around $38,000, which is why we expect prices to rise again from this point. We expect an upward move towards the $45,570 resistance after bitcoin price reaches the GoldenPocket. Once the price hits the resistance, things could get interesting again. Price would have to decide whether to continue bullish or bearish.

Bullish formation still intact

As previously written, if Bitcoin breaks the $40,600 support, we expect a crash into the GoldenPocket. During the crash, price could form the right shoulder of the inverted shoulder head and shoulder formation. This shoulder is important to complete the formation. As the shoulder is then formed, a bullish breakout could occur. Thus, the Bitcoin price could break the $45,570 resistance and thus also break out of the formation in a bullish manner. Targets are around $52,500.

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