Bitcoin Price Prediction as BTC Fast Approaches $29,000 Level – Here are Key Levels to Watch
With Bitcoin nearing the $29,000 level, all eyes are on the cryptocurrency token and its strong bull run for the past few weeks. This has prompted many analysts to provide Bitcoin price predictions for the near term.
The most optimistic predictions for the token include reaching all-time highs of around $50,000 by the end of 2021, which could potentially bring massive gains to the crypto markets overall. Other targets for the end of 2021 range from $35,000 to $45,000.
For the near term, the key levels to watch remain the following:
$26,000 – This is the level where Bitcoin experienced high buying interest earlier this month, and it is likely to be a crucial technical support level.
$27,700 – This was the level where the rally stalled earlier this week and represents a potential resistance level.
$30,000 – If Bitcoin passes this level, it could be a new all-time high.
$33,000 – Provided that Bitcoin crosses the $30,000 threshold, this is the level that many investors and traders expect the token to reach next.
Overall, the key support and resistance levels remain the same. Any bullish move taken by the token would likely see a new all-time high in the next couple of weeks. Also, watch for any significant resistance levels at around $27,700 and $30,000. As long as these levels remain intact, the market will remain bullish going into 2021.