Annual forecast for Bitcoin (2021)
By
Azeez Mustapha
PUBLISHED:
Aug 04 2021 @ 21:33
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More info about Azeez Mustapha
Bitcoin price (COIN:BTCUSD) is bearish in the short-term, but bullish in the long-term. Price dropped massively in May 2021, and then consolidated until mid-July and then rose massively.
The market is currently above the upper Trendline, and the RSI period 14 is also above the level 50, signifying a northwards propensity. The current bullish momentum is no under threat, as long as price does not go into the Trendlines.
The bias on BTCUSD is bullish for this year, despite any pullbacks along the way. Pullbacks into support levels should be seen as long-term buying opportunities.
Bitcoin is expected to go further northwards in spite of all odds to reach the resistance levels at 60,000.00, 80,000.00 and 100,000.00 before the end of this year.
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