Bitcoin price prediction: BTC/USD gets ready for a bull rally; $10,000 is nigh – Confluence Detector

  • Bitcoin battles to stay above $6,000 after momentum lost steam under $6,100.
  • Bitcoin could see another surge in the next 24 hours according to a crypto analyst on Twitter.

Bitcoin price has started setting new limits and breaking them within a very short time. Within seven days the largest digital asset has formed new 2019 highs and broken them all over again while trending to higher levels. The recent break above $6,000 was not a surprise to the ardent follower of Bitcoin as it had been predicted to hit the same level at the beginning of the surge in April.

The 4-hour chart shows Bitcoin battling to stay above $6,000. The retracement comes after BTC/USD hit a high of $6,097 during the Asian session on Thursday. Fortunately, the price is supported by strong positive levels. The RSI is holding tight in the oversold while the MACD is sitting comfortably in the positive territory. Bitcoin is trading above the EMA200 to show that it is in a bullish zone and could trend even higher.

A popular crypto analyst on Twitter referred to as Galaxy has come out saying that Bitcoin is going to experience a huge surge in the next 24-hours. Galaxy has over 50,000 followers on Twitter wrote:

“Probably less than 48 hours to buy altcoins at a discount. Green line breaks up and it's showtime.”

Most analysts are preferring to stay off predictions following a series of unrealistic forecasts that failed to materialize since last year.

Moving to the confluence detector Bitcoin has very minor hurdles to the upside. Therefore, a small breakout to the upside, especially above $6,100, will open the door for yet another surge just as the analyst predicts. The initial hurdle rests at $5,994.38, the second at $6,119.71 and the third at $6,621.05.

On the downside, Bitcoin has a series of strong support levels. This means that the crypto is inclined to correct higher as opposed to correcting lower in the short-term. The first support is seen at $5,931.71 while the second strongest support is $5,681.04 and third significant support is at $5,555.71.



Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

Bitcoin price analysis: $ 7,265 to cap any bounce amid rising wedge breakdown

Bitcoin (BTC/USD) is trading little changed so far this Saturday, having run into stiff resistances aligned near 7,265 on its multiple upside attempts. Rising wedge breakdown is spotted on hourly sticks, with bears eyeing 7,075. However, a rebound cannot be ruled out in the near-term.

More Bitcoin News

Litecoin technical analysis: Bearish bias intact while below $ 45.50

Litecoin (LTC/USD) is back in the red zone on Saturday after two straight days of tepid bounce. Despite the latest knockdown, the coin remains in a familiar trading range between $ 45 and $ 43. 

More Litecoin News

Bitcoin Cash price prediction: Eyes on $ 215, with bull pennant on hourly sticks

Bitcoin Cash (BCH/USD) built on Friday’s rebound before entering a bullish consolidation this Saturday, as the bulls await a fresh impetus for the next push higher. 

More Bitcoin Cash News

Cryptocurrency market update: Selling wave returns, Santa rally still on sight?

No relief for the crypto markets, as sellers return on Saturday. Ethereum – the main laggard amongst the top three dominant cryptocurrencies. 

More Cryptocurrencies News


Bitcoin Weekly Forecast: It's all about whales again

On the cryptocurrency market, regulators, governments and central bankers and other big names like that are inferior to whales when it comes to generating trends and price movements.

Read the weekly forecast