Bitcoin Price Prediction (Technical Analysis)

Bitcoin Price Prediction For 02/11/2022

In this article, we are going to do a technical analysis of the Bitcoin Price Prediction. Our analysis might differ from yours. Kindly seek advice from your financial advisor before doing trade on our levels.

Bitcoin Price Prediction

Bitcoin Price Prediction Based on Monthly Chart

Bitcoin is making a shark pattern on a monthly time frame as shown in the figure below:

Bitcoin Price Prediction
Bitcoin Price Prediction

So, it might be possible that, the Bitcoin [rice may touch the 11000 level before going up.

Also, the price is trading near the lower Bollinger band and 20 day SMA curve is downward. So, there are chances of going down but keep in mind that the lower Bollinger band acts as support also. So, the price may move up as well.

Bitcoin Price Prediction Based on Weekly Chart

On a Weekly Time frame, Bitcoin is taking resistance from 20 SMA and the price might go further down till the lower Bollinger band. It should be noted that the band is getting narrower. If it breaks in the upper side, then the price may go higher, and if breaks downward, the price may go further down.

Bitcoin Price Prediction
Bitcoin Price Prediction

Bitcoin Price Prediction Based on Daily Chart

Bitcoin Price Prediction
Bitcoin Price Prediction

Bitcoin is currently taking resistance at the upper Bollinger band on the daily time frame and the slope of 20 days moving average i.e. 20 SMA is turned upwards. It indicates that there might become a bullish momentum. It might also be possible that it may retrace to 20 SMA and then move higher.

Buying Trade

If Bitcoin goes above the level of 21033, then there will be buying trade, and Targets are given below;

1st Target: 21708

2nd Target: 22382

Bitcoin Price Prediction
Bitcoin Price Prediction

Chart Courtesy tradingview.com

Selling Trade

If Bitcoin goes below the level of 20306, then there will be selling trade, and Targets are given below;

1st Target: 19596

If it comes at this level, then I might be looking for the Buying trade after seeing the price action.

These are valid for a day only. Market prediction is not that easy. One has to be good at technical analysis and must follow the rule-based setup. Here we are going to predict the market on our analysis. Your analysis might be different from ours. Kindly take the trade or invest after consulting with your financial advisor. We are posting the market predictions on a basis for educational purposes only. I am not SEBI register. Kindly plan your trade as per your financial advisor.

Also, Check Nifty and Bank Nifty Market Prediction

Also, Read Upcoming IPO

Bitcoin Price Prediction For 31/10/2022

In this article, we are going to do a technical analysis of the Bitcoin Price Prediction. Our analysis might differ from yours. Kindly seek advice from your financial advisor before doing trade on our levels.

Bitcoin Price Prediction

As we can see, Bitcoin is currently trading at the upper Bollinger band on the daily time frame and the slope of 20 day moving average i.e. 20 SMA is turned upwards. It indicates that there might become a bullish momentum. It might also be possible that it may retrace to 20 SMA and then move higher.

On a Weekly Time frame, Bitcoin is about to cross 20SMA and it might possible that it may retrace a little and then move upward or may go down from this level. To move higher, a strong candle should break the 20 SMA line.

Buying Trade

If Bitcoin goes above the level of 21033, then there will be buying trade, and Targets are given below;

1st Target: 21708

2nd Target: 22382

Bitcoin Price Prediction
Bitcoin Price Prediction

Chart Courtesy tradingview.com

Selling Trade

If Bitcoin goes below the level of 20306, then there will be selling trade, and Targets are given below;

1st Target: 19596

If it comes at this level, then I might be looking for the Buying trade.

What will be the Bitcoin Price Prediction in 2025?

It is not possible to predict the price movement as the crypto is very volatile. But as per our analysis, it might be near 100000.

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