Bitcoin Price Prediction 2024 According to Experts

Bittime - Bitcoin price analysis 2024 shows a positive outlook with strong support at $60,400. If BTC breaks $67,000, a quick move towards higher resistance levels is likely. The cup and handle pattern adds reliability to the current bullish trend.

Bitcoin Price Prediction 2024 According to Experts

The daily chart for BTC/USD shows good prospects for Bitcoin in the near future. A new support level around $60,400 has been established, and BTC's presence above this level indicates strong investor interest.

If Bitcoin next breaks above $67,000, a rapid move towards the resistance level is likely, possibly even extending into a bullish trap. Bitcoin market sentiment is expected to remain between Believe/Deny (NUPL) as long as Bitcoin trades within the specified support and resistance levels.

Short Term Technical Analysis of Bitcoin Charts

Last week, Bitcoin price was expected to range between $60,400 and $72,000, maintaining an uptrend above $60,400. There seems to be no reason to question the possibility of a drop below $60,400. This can't possibly happen. Currently, it appears that Bitcoin prices remain stable as retail and investors await the results of the presidential election.

Current Bitcoin Price Analysis

If we look at the BTC/USD chart, we can see the usual cup and handle pattern. The rounded bottom of this cup indicates a period of consolidation with stable support. Together with the right and left lips of the cup, it costs about $64,000. Bulkowski's Encyclopedia of Chart Patterns states that the ideal cup depth is between 12% and 33%. The depth of the handle and cup on the BTC chart is around 290%, adding to the reliability of the pattern.

Conclusion

With strong support around $60,400, the daily chart of BTC/USD shows a positive outlook for Bitcoin. There is a possibility that the price will move quickly to higher levels if the price manages to break the $67,000 resistance level. With the current steady uptrend, Bitcoin is expected to be in the $60,400 to $72,000 range. The cup and handle technical pattern shows a strong association with stable support at around $64,000. Overall, if this support level remains, the bullish trend is expected to continue.

How To Buy Crypto With Bittime

You can buy and sell crypto assets in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti. 

To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. 

Monitor price chart movements of Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.