Bitcoin Price Has Broken Record and can't be stopped! What Are The Predictions?

The price of Bitcoin has been steadily rising, breaking even the $ 14,000 resistance against the US dollar. According to renowned analyst Aayush Jindal, the price of Bitcoin is showing positive signs and the US election results appear to have triggered rapid moves.


 

The price of Bitcoin remained in positive territory, rising above the resistance zone of $ 14,000.    

The price traded above $ 14,338, a 2020 high, well above the 100-hour simple moving average.

The hourly chart of BTC / USD is likely to be a rising channel with support of around $ 13,950 (data flow from the Kraken).

The pair could trim a few points, but the Bulls are likely to break towards $ 14,500, or even $ 15,000, according to the analyst.


Bitcoin price gaining speed! What's the target now?                                                                             

The price of Bitcoin began a steady rise after a successful close above the resistance of $ 13,800. BTC broke the main resistance level of $ 14,000 and settled well above the 100-hour simple moving average. The price cleared the region of $ 14,200 and traded above $ 14,338, a 2020 high. At the moment, BTC is on a bullish path, showing many positive signs above the $ 14,000 level.


If there is a negative correction, the initial support is near the $ 14,150 level, according to the analyst. The 23.6% Fib retreat from the $ 13,545 to $ 14,388 is also close to $ 14,150. BTC / USD seems to have a rising channel in the hourly chart with support of around $ 13,950. Channel support is close to a 50% Fib retreat from the recent increase to $ 14,388 from a low of $ 13,545.




Here are the critical levels bitcoin could see in the short term

According to analysts, the $ 14,400 level is a short-term resistance. A net break of channel resistance and above $ 14,400 could open the doors for a rally towards $ 14,500, according to the analyst. The Bulls ' next big stop, according to the analyst, could probably be near the $ 15,000 level.                                                         

The price of Bitcoin began a steady rise after a successful close above the resistance of $ 13,800. BTC broke the main resistance level of $ 14,000 and settled well above the 100-hour simple moving average. The price cleared the region of $ 14,200 and traded above $ 14,338, a 2020 high. At the moment, BTC is on a bullish path, showing many positive signs above the $ 14,000 level.


If Bitcoin launches a negative correction, it could find offers near the $ 14,150 level, according to the analyst. The first big boost in the negative direction, according to the analyst, is close to the $ 14,000 level, followed by the channel's low trend line. A downward break below the $ 14,000 level and channel support could push the price toward $ 13,800 support, or even a 100-hour simple moving average, according to the analyst.


Current view of Bitcoin price with technical indicators

Hourly MACD: the MACD for BTC / USD parity is gaining momentum in the bullish zone.


Hourly RSI( relative strength index): for BTC / USD parity, the RSI is currently well above the 60 level.

Major support levels: $ 14,150, followed by $ 14,000.

Main resistance levels: $ 14,400, $ 14,500 and $ 15,000.