Connect with us

Hi, what are you looking for?

Oracle of  Omaha SaysOracle of  Omaha Says

Editor's Pick

Bitcoin Price Prediction: BTC Surges to $63,375, Eyeing $70,000 as Buying Intensifies

Bitcoin Price Prediction

On Saturday morning, Bitcoin continued to command attention, with a recent price uptick to $63,375. This week, the foremost digital currency has shown resilience, registering a modest 0.22% rise. Currently positioned above a critical pivot point of $61,650, Bitcoin’s trajectory seems poised for further exploration towards $70,000.

With a trading volume of around $32.77 billion in 24 hours and a market cap of almost $1.25 trillion, ongoing developments influence Bitcoin price predictions.

Bitcoin Price Prediction

On the technical front, the key price levels to watch for Bitcoin include the pivot point, which stands at $61,651. Above this level, the immediate resistance is found at $64,564, followed by further resistance levels at $67,084 and $69,356.

On the downside, the immediate support level is at $59,164. Should Bitcoin move lower, the next support levels to watch are $56,677 and $54,336.

Bitcoin’s recent activity on the 4-hour timeframe illustrates a bullish trend, marked by a crossing above the 50-day Exponential Moving Average (EMA) at $61,574, which previously acted as resistance.

#Bitcoin continues its bullish trend, staying above pivotal $61,651. Watch for resistance levels at $64,564, $67,084, & $69,356. Support begins at $59,164 with further levels at $56,677 & $54,336. RSI at 63 signals strong buying. #CryptoTrading #TechnicalAnalysis

— Arslan Ali (@forex_arslan) May 4, 2024

The formation of a ‘three white soldiers‘ candlestick pattern suggests a strong possibility for continued bullish momentum. However, there is a noted resistance at approximately $63,200, where a downward channel may temporarily restrict upward movement.

Should Bitcoin break above this threshold, it may swiftly approach the next resistance level at $64,564.

A further bullish breakout could potentially propel Bitcoin towards higher resistance levels of $67,084 and even $70,000, following a clear breach of a double-top pattern near $67,000. The Relative Strength Index (RSI), currently at 63, supports this optimistic outlook, indicating a dominant bullish sentiment in the market.

Bitcoin Price Prediction – Source: Tradingview

Technical Indicators:

RSI: 63, indicating strong buying pressure.
50 EMA: $61,574, now acting as support after the breakout.

Given these factors, the market condition for Bitcoin remains favorable above the $61,651 pivot point. This level is crucial; maintaining above it suggests potential for higher climbs towards the outlined resistance markers. Conversely, a dip below this pivot could trigger a significant sell-off, targeting initial support at $59,164 and potentially lower levels if bearish pressure intensifies.

Conclusion: Bitcoin is poised for potential further gains if it remains above the pivotal $61,651 mark. Traders should monitor this level closely as staying above it could lead to testing higher resistances at $64,564 and beyond.

However, falling below $61,651 could see Bitcoin retreat towards lower support levels, with the market reassessing its bullish stance. The current technical setup underscores the critical juncture for Bitcoin’s short-term price trajectory.

You might also like

Secure Early Advantages with the 99Bitcoins Presale

99Bitcoins, a leader in digital education, is transforming the way users learn about cryptocurrency through its ‘learn-to-earn’ platform. Participants can enhance their knowledge while earning $99BTC tokens, effectively growing both their expertise and their investment portfolios.

The current presale of $99BTC tokens is catching the attention of savvy investors, offering an enticing entry price for early participants.

Exclusive Early Access to 99Bitcoins

This presale presents a rare chance for early investors to secure $99BTC tokens at a competitive price of $0.00103 each. These tokens are not just a reward mechanism but also provide access to premium content and additional perks within the community.

Act Fast—Limited Time Offer

To date, the presale has amassed $1,012,568., progressing towards a goal of $1,711,230. With just over three days left until the next pricing stage, this is a pivotal moment to invest in $99BTC and start benefiting from immediate staking opportunities.

Secure Your 99Bitcoins Today

The post Bitcoin Price Prediction: BTC Surges to $63,375, Eyeing $70,000 as Buying Intensifies appeared first on Cryptonews.

Enter Your Information Below To Receive Free Trading Ideas, Latest News And Articles.

    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    You May Also Like

    Latest News

    A former Republican legislative candidate who traveled to Washington for former President Donald Trump’s ‘Stop the Steal’ rally was arrested Friday and charged with...


    Even as U.S. inflation broadly cools, frozen vegetable prices are hot. The average shelf price for frozen veggies rose by 18% in the past year...

    Latest News

    Abbe Lowell, Hunter Biden’s attorney, filed an ethics complaint Friday against Georgia Rep. Marjorie Taylor Green after she displayed censured nude photos of the president’s...

    Latest News

    President Biden has overruled the Pentagon and chosen Adm. Lisa Franchetti to lead the Navy, making her the first woman, if she’s confirmed, to...

    Disclaimer:, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024