The Bitcoin price has been in a consolidation phase for a few days. This was formed after the price fell from about $30,000 to +/- $17,600. The price is now around $20,000. The Bitcoin price will not be there for a long time. We from CryptoTicker explain to you today why the Bitcoin price could fall further in the near future and what the next goals are!
Could Bitcoin rise for now?
BTC/USD Trend Line + Resistance
The Bitcoin price has been able to form a trend line and resistance in recent weeks. The resistance is around $22,000. The trend line is heading for resistance, which is why a decision will have to be made sooner or later. Since there is still enough time, we assume that the price will fall a little in the next few days to test the trend line. However, it could then go uphill again. We expect the Bitcoin price to rise to the resistance of $22,000. This would result in a price increase of about 10%. However, the future, after the price has risen to $22,000, looks rather gloomy.
Will Bitcoin fall lower than the last low?
BTC/USD Next Destination
Since the Bitcoin price is in a sideways phase, we assume that the price sees this as a correction. Thus, we expect that sooner or later the course will reach the next support. This is at about $16,300. As soon as the current support of $19,000 breaks, it could quickly go towards $16,300. However, it cannot be ruled out that the Bitcoin price will break the resistance of about $22,000 and then rise to $28,000. Such a price movement would flush some short positions out of the market. Furthermore, it would confirm the break of the support zone between $28,000 and $30,000.
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