Bitcoin Price Prediction as BTC Spikes Up 1.4% on the Weekend – Bullish Week Incoming?

Bitcoin’s recent 1.4% spike in value this weekend has stirred interest among investors, prompting discussions around Bitcoin price prediction for the coming week.

Currently trading at $63,559, Bitcoin demonstrates robust market activity with a trading volume of $17.73 billion and maintains its dominant position with a market cap of approximately $1.25 trillion.

Bitcoin Price Prediction

Today’s Bitcoin (BTC/USD) pivot point stands at $64,075, serving as a key level for traders to watch. Bitcoin faces immediate resistance at $65,092. Should the momentum continue upward, the next resistance levels to monitor are $66,745 and $67,887.

On the downside, Bitcoin finds immediate support at $62,754. Further declines could see it testing support levels at $61,782 and $60,780, respectively.

The Relative Strength Index (RSI) is currently at 43, indicating that Bitcoin is neither overbought nor oversold at this stage. This neutral position may suggest a lack of strong momentum in either direction for the market.

The 50-Day Exponential Moving Average (EMA) is currently positioned at $64,355. This metric is crucial as it hovers near the pivot point, indicating that the market could be at a critical juncture.

On a 4-hour chart timeframe, Bitcoin has recently broken below the descending triangle pattern, which had been providing support around $64,000.

This technical breach suggests potential for further declines. If downward momentum continues, Bitcoin could potentially fall towards the $61,750 level, and possibly extend losses to $60,750.

Conclusion

The technical outlook for Bitcoin is currently bearish below the $64,075 level. A decisive break below this pivot could pave the way for further declines towards the immediate support levels.

Conversely, a movement above this critical point could instill a more bullish sentiment in the market, potentially leading to a test of upper resistance levels.

Unlock Cryptocurrency Rewards: Join the 99Bitcoins Presale Now!

99Bitcoins, a pioneer in digital education, is revolutionizing cryptocurrency learning with its innovative ‘learn-to-earn’ system. Participants engage with educational modules and earn $99BTC tokens, simultaneously boosting their knowledge and financial portfolio.

The ongoing presale of $99BTC tokens is generating substantial interest, offering these tokens at an attractive rate for early adopters.

99Bitcoins Presale: Your Gateway to Early Benefits

The 99Bitcoins presale event offers an exceptional opportunity for early investors to acquire $99BTC tokens at a notably low price of $0.00102 each, with the potential for substantial returns as the ecosystem develops and expands.

These tokens not only serve as a mechanism for rewards but also provide holders with access to exclusive content and additional community benefits.

Don’t Miss Your Chance

As it stands, a total of $873,875.4 has been raised towards the target of $1,468,656.

Time is of the essence, as only a few days remain before the next price increase. This is a crucial moment to buy $99BTC and benefit from the advantages of staking your tokens immediately.

Secure Your 99Bitcoins Today

The post Bitcoin Price Prediction as BTC Spikes Up 1.4% on the Weekend – Bullish Week Incoming? appeared first on Cryptonews.