From my recent observations on Bitcoin price movements, it’s clear that it has been a quick upward climb above the resistance level of $53,000, with an aim at $60,000.
Despite that fact, I just feel it within me that we could reach $65k in the next weeks or so.
Here is why.
Judging by the charts, one may think bitcoin’s price is already quite high up there. Nevertheless, given the inflow of money into this market, there is still enough space for further uptrends.
This means that as more money comes in, we can expect increases in prices.
Currently, the first hindrance lies at $60K as a point of resistance.
However, I am positive because there is enough room for profitable trading.
To forecast the highest market point, it is necessary to consider prices versus capital flows and trading favorability index separately.
This could be a signal for possible downward correction when these indicators are high as usual.
The question is whether we will hit any resistance around $60,000, have a higher low consolidation at $53,000 and then go towards $65,000.
Another scenario could be that Bitcoin would spike to $65,000 without much ado. I am more inclined towards the latter possibility.
The current bullish momentum combined with the continuing enthusiasm for digital currencies suggests to me that Bitcoin could really make a quick move to $65k.
Nonetheless, it is vital to be careful not to overlook possible resistance zones.
Thinking about my own experiences in the crypto market, I have learnt that volatility is forever present. It brings opportunities for profit as well as risks. Therefore, I approach every decision with a mixture of hopefulness and caution while I consider what might happen next.
Being crypto obsessed, I take pleasure in scrutinizing the market trends and guessing what could happen. It is a frenzied space that never bores me.
The price surge of Bitcoin may look like an investment bubble to some people, but I view it as a sign that more people are starting to accept and adopt cryptocurrencies.
Moreover, blockchain plays a transformative role in other sectors apart from finance.
So the rise of Bitcoin reflects wider movement toward distributed systems and digital assets that hold my fancy for future developments.
In sum,
while moving forward to $65k might appear like an insurmountable hurdle for Bitcoin; however, I am positive about its future.
In order to survive the turbulence of the market we need information, adaptation skills and calmness.
And who knows maybe $65k is just the start of its ascent into greater heights?
Posted Using InLeo Alpha