BTC/USD

Bitcoin ( BTC ) Price Prediction: Key Levels BTC Must Overcome to Confirm Growth

If you want to catch a new trend from the beginning you should pay your attention to the price structure you will find in this article.

Overall picture

As always let's start from a daily chart to see how the situation in general is. We just take it simple and recognize the fact that the price holds below the 30-day moving average (or average monthly price if you want) It means the bears are taking control, for now.

Of course, Dec. 21 we had that bullish engulfing pattern or somebody could say it is all about the double bottom but we would like to keep it simple as been said before. Everyone knows that the main money is made in trends, so let's try to find a trend.

Forming a trend

On the chart below you will find how the current market tries to form some bullish structure. How to find out that we are forming a trend? The trend confirmed when lows and highs are ascending, a minimum of two times from both sides.

As you can see from the picture we already got a local low and a local high. If the price will be pushed above the local high without breaking the low before - congrats we are in the local uptrend.

Other confirmations

To see BTC price prediction in the long-term you can in another article here. Now let's take a look at how Bitcoin strengthens its position over other altcoins. By the way, you can use the same trend determination method.

How do you think will the 68% level be broken?