Bitcoin price prediction: BTC to move towards $24000 next, analyst

Description

Image via Bing Digital TL;DR Breakdown Bitcoin price prediction expects the next milestone to $24000. Support now found at the $22250 mark. Strong resistance persist at the $23750 mark. The Bitcoin price prediction by Vaido Veek has shown that the BTC price will move towards the $24000 before concluding this price ascension move. The cryptocurrency … Read more

Image via Bing Digital

TL;DR Breakdown

  • Bitcoin price prediction expects the next milestone to $24000.
  • Support now found at the $22250 mark.
  • Strong resistance persist at the $23750 mark.

The Bitcoin price prediction by Vaido Veek has shown that the BTC price will move towards the $24000 before concluding this price ascension move. The cryptocurrency king has been rising from the start of the 16th of December, and it has crossed the long-awaited $20000 mark. Moreover, the price reached another all-time high, short of the $24000 mark.

1-Day Bitcoin price analysis

The cryptocurrency saw an ascending slope on the 17th of December, and the price reached across the $23250 to $23750 region. The price approached a day’s high of $23777.00 on Bitstamp, while the lowest value for the price was reached at the beginning of the day’s trade, at $20560.51 The technicals show that the BTC market appears to be for the buyers at this point. The overall trend for the cryptocurrency was quite bullish over the 24-hour chart.

The cryptocurrency reached an all-time high just after 09:00 GMT, where it spiked across the $23750 mark.

What to expect from Bitcoin?

The cryptocurrency king broke the crypto market on the 16th and 17th of December after ascending across the $20000 mark to reach another all-time high in less than a month.

Bitcoin price chart 2 - 17 December
Bitcoin price prediction chart by Gold Bug

The cryptocurrency broke above the midline of the ascending channel and moved towards the upper boundary until it moved across that as well. The The analyst expected the price to move towards the $21500 mark, which is where the upper boundary of this up-channel was marked. However, the cryptocurrency ascended across the ascending parallel channel and reached the all-time high above the $23750 level.

Bitcoin price prediction: The $24000 mark up next?

The cryptocurrency market has see a highly bullish move over the past two days. The BTC price stands supported between the $17650 and the $19400 zone. The analyst’s chart below shows that the next target price for the BTCUSD pair is the $24000 mark.

The price already hit the first two targets for this trade at $22100 and $22900. The bounce-off that occurred at the support zone caused the cryptocurrency to rise towards the higher resistances above the $20000 level. Supports below this ascending trend line are marked at $13750 and $15500. This crypto boom may continue until the price hits the $24000 level.

What’s next for BTC?

Looking at the idea chart posted by the Trading View analyst Stargazer, we can see that the cryptocurrency has been traveling inside an up-channel from the start of November. The crypto analyst highlighted a double bottom pattern, after which the cryptocurrency has moved above multiple resistances and it also broke above a falling channel to rise towards the upper boundary of the channel and beyond it.

This ascension has come to an end, per the analyst’s opinion. The price might see a brief price correction from its current standing, which will cause the BTC price to drop towards the $19900 mark, which is where the midline of this structure is marked. The analyst believes that the cryptocurrency will resume its uptrend after reaching this midline in the up-channel.

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