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Indicators are bullish for the Bitcoin price

Bitcoin is currently developing very bullishly. The USD 52,000 mark is almost inevitable – and the indicators see a bullish trend change for the Bitcoin price imminent!

Bitcoins price could now reach USD 52,000

Bitcoin price chart from Tradingview

Bitcoin’s weekly rate is currently very bullish. Since reaching the support at around USD 30,000 at the golden ratio, Bitcoin has now been able to rise sharply for three weeks in a row, with which it was even able to break the important Fibonacci resistance at USD 43,000. Bitcoin is currently on the way to the USD 52,000 mark at the golden ratio. And should this resistance be broken, Bitcoin’s trend is bullish again. Then it could even trump the all-time high at around USD 65,000 and rise to just under USD 88,000. The weekly MACD is also bullish; the MACD lines are close to a bullish crossover and the histogram has been ticking bullishly higher for many weeks.

Bitcoin is on the verge of a bullish trend change

Bitcoin price chart from Tradingview

After Bitcoin broke the Fibonacci resistance at USD 43,000 just under a week ago, it rose to around USD 47,000 and then fell for three days in a row. However, this ended yesterday when the Bitcoin price bounced off the broken resistance at USD 43,000, which now serves as support. Today Bitcoin initiates a very strong upward movement and is therefore almost inevitable on the way to the next resistance at USD 52,000. In addition, the EMAs are on the verge of a bullish crossover in the daily rate, which would again have a bullish confirmation of the trend. All that’s missing is the break of the USD 52,000 mark so that Bitcoin is completely in the bull trend again. Bitcoin is only around 10% away from that.

The supports and resistances for the Bitcoin course in the monthly rate at a glance

Bitcoin price chart from Tradingview

Of course, there is also the bearish scenario that Bitcoin is rejected at the important resistance at USD 52,000 and instead of initiating a bullish trend change, it continues its previous bear trend. The Bitcoin price would then find the next support at USD 43,000 and USD 30,000. At the latest at around USD 25,000 or USD 20,000, Bitcoin would meet with extremely strong support. However, given the current bullish development, it is very unlikely that Bitcoin will reach these low levels. It looks more like Bitcoin will hit a new all-time high this year!

The crypto market is not far away either

Crypto market capitalization chart from Tradingview

Overall, the crypto market is also not far from reaching the crucial market capitalization of USD 2,000 (trillion USD). Should the crypto market break this level, the crypto market could experience a new heyday and we could see what is known as an “old season”. Then, in addition to Ethereum, other popular altcoins could set off to new highs, and new speculative coins could once again find approval in the community.

Disclaimer of liability

All information contained on our website has been researched to the best of our knowledge and belief. The journalistic contributions are for general informational purposes only. Any action that the reader takes based on the information found on our website is entirely at your own risk.

Hasan Sheikh
Hasan, who loves technology and games, is studying Computer Engineering at Delhi JNU. He has been writing technology news since 2016.


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