Bitcoin Price Prediction shows bullish wave strong above $54,000

Bitcoin price prediction summary

• Bitcoin price prediction suggests that the cryptocurrency is stable at $54K
• BTC/USD has been trading bullishly for the past few days.
• Press time support is found at $53.9K mark.
• Current resistance is found at $54.7K mark.

According to Bitcoin’s price analysis, the king of cryptocurrency is currently stable at $54,000 after beginning its upswing on October 6th. For two days, the bull run continued, and today the king has finally settled down after bouncing above $55,000 momentarily. During the last 24 hours, Bitcoin has gained 5.09 percent.

Bitcoin Price Prediction: Daily candlesticks shows the bulls took control of the trendline

The Bitcoin price prediction for a single day reveals that the cryptocurrency is experiencing greater volatility than in previous days. In the bullish trends, the king reigns supreme. The upper Bollinger band, which indicates the highest resistance line, is marked at $54385. The nine-day moving average is located at the first support level at $48.

At $37,570, the Bollinger band is at the lowest support level accessible; this corresponds to a difference in opening and closing trends of approximately $1,000. The relative strength index (RSI) score is 67.15, which is somewhat oversold when compared with other indicators.

BTC/USD 4-hour chart confirms the bullish trend

The volatility is increasing, according to the four-hour Bitcoin price prediction chart. The upper Bollinger band, which marks the most resistance, can be found at $56,527, while the lower Bollinger band, which denotes the greatest support, is located at $46,156. Compared to previous periods of time.

BTC/USD 1-day price chart. Source: Trading View

The $53,740 nine-day moving average is the close support, with the Bollinger bands averaging at $51,342. The oversold zone of the relative strength index (RSI) score is found at 73.19; allowing for the formation of some bearish momentum once more.

Bitcoin price prediction conclusion

At the beginning of June, Bitcoin’s price was about $7500. Since then, it has risen by around 15%. The king of cryptocurrency is presently in the midst of a strong upswing that has been going for the last seven days; now he is resting at $54000 before attempting to reach $55,000 again. If the $54,000 mark is broken again, the next resistance level will be at $55,700.

The bullish trend remains in place as per Bitcoin’s price analysis for now; however, this may change as the cryptocurrency experiences greater volatility than it has previously. Therefore, investors and traders should keep a close eye on any changes to price movement patterns