Now that the Bitcoin price is still below the $100,000 level for the time being, there is much speculation about the near future of the world’s largest crypto. At the same time, crypto experts are encouraging investors to buy BTC. What will Bitcoin do?
Bitcoin remains stable and has been hovering below the important $100,000 level for some time now. After the Bitcoin price fell below $100,000 in early February, it has not managed to rise above this level.
In the past week, Bitcoin has moved between the range of $94,000 and $98,000. Now that the price has been able to rise above $96,700, however, optimism has arisen within the Bitcoin community.
What’s next for Bitcoin?
The current Bitcoin price chart shows a ‘Head and Shoulders’ pattern. This is a classic pattern that can be found in a classic bearish reversal. It is an important signal that the BTC price is on the eve of a new rally.
This rally is being further helped by crypto analysts who continue to encourage investors to buy BTC. For example, the well-known crypto expert Michael Saylor recently stated that buying Bitcoin helps strengthen the Bitcoin network. However, according to him, selling Bitcoin does the opposite.
Large purchases can result in significant price increases. At the same time, large sales can lead to significant losses. If it is up to Saylor, the long-term value of Bitcoin will remain promising. He still sees it as a means against inflation. However, in the short term, the necessary volatility must be taken into account.
BTC price expectation
If the technical indicators of BTC are to be believed, an increase is coming for BTC. The RSI, for example, still has a lot of room for an increase. At the same time, the MACD histogram is giving off a buy signal with a value of -851. These are already several positive signals for an upcoming increase.
At the same time, the current BTC price is also above all its EMAs. Only the 30-day EMA is currently worth more than Bitcoin. This is another important indicator that the near future of Bitcoin is promising.
If this increase in BTC actually takes place, the resistance at $98,780 can be looked at. If the price is able to turn this resistance into support, it could rise above the $100,000 mark. In the event of a decline, strong support can be expected at the $97,726 level. This level is followed by support at $97,020.
Now that BTC may only continue to rise, it seems like an interesting time to invest in BTC. However, this sometimes proves difficult for investors. For this reason, a new crypto project has now appeared on the market that offers a solution.
Bitcoin Bull is a new crypto project inspired by the speed at which Bitcoin is climbing towards $1 million. This project now allows users to earn free Bitcoin and BTCBULL tokens. In this way, it wants to allow investors who cannot afford to buy Bitcoin to also enjoy the rapid growth of BTC.
The native BTCBULL token was developed on the Ethereum blockchain and is currently available for purchase during its presale phase. Due to the large discounts currently available, it is an attractive time to participate in this promising project. So don’t miss your chance to take advantage of the current low price of the BTCBULL token.
