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Bitcoin Technical Analysis: Experts forecast above $16,000 by end of the year

Bitcoin price nursing minor losses late on Monday, seen down just some 0.30%.
Experts panel median forecast for Bitcoin is above $16,000 by the end of this year.
BTC/USD over the past seven sessions, has closed up in the green on daily five of those.

Ken Chigbo Independent Analyst

BTC/USD daily chart

Spot rate: 6397.8

Relative change: -0.38%

High: 6464.0

Low: 6316.9

Trend: Bullish

Support 1: 6338.2, daily pivot point S1.

Support 2: 6254.0, daily pivot point S2..

Support 3: 6191.0, daily pivot point S3.

Resistance 1: 6476.3, 50DMA.

Resistance 2: 6585.0, 100DMA.

Resistance 3: 6632.4, daily pivot point resistance.

Author

Ken Chigbo

Independent Analyst

Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.

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