Bitcoin (BTC) prices have broken beyond the overhead barrier and are rising to a high of $118,790.
Bitcoin Price Long-Term Prediction: Bull
The bullish momentum is below the $118,000 high, but below the $116,000 support. On the downside, BTC prices have fallen earlier, finding support beyond key levels before rebound. Bitcoin is expected to surpass its $118,000 high.
If the initial barrier is broken, the most expensive cryptocurrency will be at a high of $121,488. BTC is currently below $118,000 in anticipation of further growth. At the time of writing, Bitcoin has fallen to a low of $117,530.
BTC price indicator analysis
Since the recent breakout, the price range has far surpassed the moving average line. SMA for 21 days has steadily risen, exceeding 50 days of SMA support. Bitcoin rises will continue as long as the price bar exceeds the moving average line.
Technical indicators
Key Supply Zones: $110,000, $115,000, $120,000
Key Demand Zones: $100,000, $95,000, $90,000
What will be the next move for BTC?
Bitcoin's sideways trend has been broken, with the bull smashing through overhead resistance at $110,000.
The momentum of the upward trend has stagnated as prices remain below the $118,000 peak and remain above the $116,000 support. Doji Candlesticks are formed, indicating that traders don't know what to do next.
Coinidol.com reported on July 6 that BTC prices are being held above the $108,000 support level.
Disclaimer. This analysis and prediction is the author's personal opinion. They do not recommend buying and selling cryptocurrencies and should not be considered as approval by coinidol.com. Readers should do research before investing in funds.
