Member-only story
Bitcoin Weekly Forecast: The price of BTC offers a purchase chance before it rises toward $110,000
If the bulls collect enough momentum to break over a major line of resistance, the price of bitcoin might double.
A portion worth more than $69,829 might trigger a 54 percent increase.
If BTC falls below $45,766 in value, the optimistic prognosis may be rendered null and void.
If the digital currency manages to break over a critical line of resistance, the price of bitcoin might skyrocket. If BTC breaks over $69,829., the prevalent chart pattern predicts that the top cryptocurrency might see a 54 percent leap toward $110,000 if it breaks above $69,829.
Bitcoin’s price is expected to rise by 54%
On the weekly chart, Bitcoin price has formed an ascending triangle formation, indicating that the overall prognosis for BTC is optimistic. The current chart pattern predicts a 54 percent increase to $110,714 if the bellwether cryptocurrency manages to break over the upper limit, which acts as resistance at $69,829.
The initial line of resistance for BTC is at the 50% retracement level of $48,777, which corresponds to the 50-week Simple Moving Average (SMA).
