Bitcoin price prediction for today, November 29 – InsideBitcoins

bitcoin price prediction shows positive signs as the king coin heads higher, suggesting even higher levels.

bitcoin Prediction Statistical Data:

• bitcoin Price Now – $97,969
• bitcoin market cap: $1.95 trillion
• bitcoin circulating supply: 19.79 million
• Total bitcoin supply: 19.3 million
• bitcoin Coinmarketcap Ranking – #1

bitcoin (btc) has seen remarkable growth since its all-time low of $0.04865 on July 14, 2010, marking a staggering increase of 201,351,943.94%. As of November 22, 2024, the price of bitcoin fluctuated between $94,711.16 and $97,929.68 in the last 24 hours, with a decrease of -1.71% over the past week. bitcoin's all-time high stands at $99,655.50, highlighting its significant performance and price growth since its inception.

btc/USD Long-Term Trend: Bullish (Daily Chart)

Key levels:

Resistance levels: $110,000, $115,000, $120,000

Support Levels: $85,000, $80,000, $75,000

According to the daily chart, btc/USD is trading in a defined consolidation pattern, with support near $95,000 and resistance at $97,000. While the market has shown resilience at these levels, the lower end of the range may still be tested, especially if trading volume continues to decline. The chance of a sustained bullish breakout remains slim in the near term without an increase in volume. However, there is potential for localized bullish momentum within this consolidation, but distinguishing between transitory and genuine rallies will be challenging without fundamental changes in the market.

bitcoin Price Prediction – Where is bitcoin Price Headed?

For bitcoin to break out of its current range, it would need to overcome resistance levels between $97,000 and $98,000 with a notable increase in volume. Failure to do so could see prices test lower support levels, potentially falling to between $93,000 and $94,000. However, the probability of a prolonged downtrend appears low under current conditions. Overall sentiment remains cautiously optimistic, but a sustained rally towards the $100,000 mark requires fresh momentum, likely linked to external macroeconomic or crypto-specific developments.

However, bitcoin price could head towards the upper boundary of the channel as the price establishes a new bullish signal. At the moment, traders could say that the long-term outlook favors the bulls, crossing above the 9-day moving average with eyes now set on the daily resistances of $110,000, $115,000 and $120,000 respectively. On the contrary, any decline from the current level could lead to declines to the critical support below the moving averages. However, in case btc falls and re-reaches the low support of $95,000, then the coin can rely on the long-term support levels of $85,000, $80,000, and $75,000.

btc/USD Medium-Term Trend: Bullish (4-hour chart)

The 4-hour chart reveals that bitcoin price is trading above the 9-day and 21-day moving averages at $98,055.70. However, btc/USD could begin to maintain its bull run as the technical indicator's 9-day moving average remains above the 21-day moving average.

On the contrary, the king coin may take a downward move if the bulls fail to push the price up, and the coin may fall below the 9-day and 21-day moving averages, which could reach the support of $93,000 or less. However, if the bulls find a decent resistance level above $98,000, the king coin may cross above the channel, which could reach the resistance level of $102,000 or higher.

Meanwhile, @GertvanLagen shared an analysis with his followers on $220k-$320k. It highlighted that shock wave 5 within (5) within ⑤ has begun, marking the full validation of the bullish movement.

<blockquote class="twitter-tweet” data-width=”550″ data-dnt=”true” wp_automatic_readability=”14.549079754601″>

<a target="_blank" href="https://twitter.com/search?q=%24BTC&src=ctag&ref_src=twsrc%5Etfw”>$btc (1W) – Update on tiered training.

Price has parabolically broken out of Base 4, validating the setup to reach the $220k-$320k target zone.

Blow wave 5 within (5) within ⑤ has started, validation complete!

Keep laughing at me pic.twitter.com/GIwq5D9lEK

—Gert van Lagen (@GertvanLagen) <a target="_blank" href="https://twitter.com/GertvanLagen/status/1855917270238679133?ref_src=twsrc%5Etfw”>November 11, 2024

Alternatives to bitcoin

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