Bitcoin Price Prediction as BTC Bulls Keep BTC Above $34,000: Is the Bullish Momentum Sustainable?
Despite these fluctuations, Bitcoin’s supremacy in the market is undeterred, holding firmly to its #1 position on CoinMarketCap. Its current market cap is a mammoth $665.9 billion. Speaking of supply, 19.53 million BTC coins are in active circulation, with a capped limit set at 21 million BTC coins.
Dive into our comprehensive Bitcoin price prediction to unpack the factors influencing BTC’s current stance and what the future potentially holds.
Diving into the daily chart for our analysis, the pivot point for Bitcoin is marked at $33,920, which interestingly coincides with the 23.6% Fibonacci retracement level. As for resistance levels, the immediate resistance lies at $34,500, followed by $35,250 and then at $36,150.
On the flip side, immediate support is expected at $33,000, which aligns with the 38.2% Fibonacci retracement level. This is trailed by support levels at $32,450 and $31,800, mirroring the 50% and 61.8% Fibonacci retracement, respectively.
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