Bitcoin (BTC) Records 6% Hike and Trades Above $66000

Bitcoin, the world’s largest cryptocurrency, has broken the range. Now it is consolidating again above $65,000. It is now on the verge of crossing its all-time high of $66,000. The price chart is bullish while buying interest increases. 

All the followers of Bitcoin are extremely greedy to get a higher return. Many crypto experts have already suggested that it will cross $70,000 at the end of this year. Will it cross its ATH? Let’s dive into the Bitcoin price analysis. You can click here to know more about Bitcoin price fluctuation in the future.

Bitcoin Price AnalysisAt the time of writing this post, Moving Average line, MACD, and RSI, all the indicators reflecting bullish signals. RSI is around 71, which indicates a continuation of the bullish trend. 

MACD has been bullish since August 24, and there is a vast gap between the blue and red lines, so it is not a time of bearish reversal. 

The last few candles are on the upper half of the Bollinger Band, which indicates a bullish sign as well. Moreover, Ichimoku Cloud is also green. Indeed, it is a good time to invest in the world’s largest cryptocurrency. You can invest for the long term. BItcoin is very dependable and has more than 80% share of the whole crypto market. 

All the top 10 cryptocurrencies are bullish. Not only Bitcoin, but Ethereum also reflected a massive rally and crossed its previous all-time high. At the time of writing this article, ETH is crossing the mark of $4700. It is heading towards $5000, and it will be a tough nut to crack for buyers.

Ethereum Price AnalysisBased on the recent price chart, ETH is very bullish. The last few green candlesticks are far above the Moving Average and stayed on the upper half of the Bollinger Band. Besides that, MACD is also reflects a bullish sign. Indeed, if it continues its recent trend, it will surely reach $5000 very soon. However, is it the right time to buy? It is a million-dollar question. 

Please remember that all the markets are in a high-risk zone; it may take a downtrend very soon as cryptocurrencies have no fundamental background, so you should only trade with money you can afford to lose. It is a very volatile market. If you are entering this market at this time, please remember it.

Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.

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