Bitcoin Price Forecast and Longterm Prediction
In this quarterly chart for BTC/USD we can see more details of the price movement. We have included a 20 period moving average (blue line) and the Fibonacci retracements in relation to the rise from $152,40 (low of the year 2015) to $19,666 (high of 2017).
The correction from the alltime high to the low of 2018 at $3122.28 was very close to the 38.2 % Fibonacci retracement at $3071.97.
The 20 period moving average was still rising and containing the price action.
From the correction low in 2018 we have seen a further price increase until June 2019.
Price action shows more upward potential
In the 3-month chart shown here, we also see a still intact uptrend with higher lows. The probability speaks for a further rise in the Bitcoin price, whereby the next price target could be the 2019 high at $13.880.
Only a price drop below the low for December 2019 at $6425.00 would neutralize the positive chart picture and possibly open further downward potential until the 2018 low at $3122.28.
The correction from the alltime high to the low of 2018 at $3122.28 was very close to the 38.2 % Fibonacci retracement at $3071.97.
The 20 period moving average was still rising and containing the price action.
From the correction low in 2018 we have seen a further price increase until June 2019.
Price action shows more upward potential
In the 3-month chart shown here, we also see a still intact uptrend with higher lows. The probability speaks for a further rise in the Bitcoin price, whereby the next price target could be the 2019 high at $13.880.
Only a price drop below the low for December 2019 at $6425.00 would neutralize the positive chart picture and possibly open further downward potential until the 2018 low at $3122.28.
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