Bitcoin Price Forecast – Bitcoin Continues to See Buyers Below

Bitcoin Technical Analysis

Bitcoin has shown itself to be fairly positive to kick off the week as we continue to look at the $60,000 level as a bit of a floor in the market. Ultimately, I think this is a situation where you will continue to see a lot of buyers come in and pick up each dip. And I do think that the $60,000 level will continue to be defended quite vehemently. If we were to break down below $60,000 for any significant amount of time, that could signify a complete shift in the attitude of the market as it has been so firmly held in this area.

But right now, it looks like we are more likely than not to continue to see enough buying pressure to at least keep the market in the previous consolidation zone. If that’s going to be the case, then the $67,000 level will be your target. That doesn’t mean that we get there overnight, and it certainly doesn’t mean that it’s going to be easy to get there anyway.

But I do think that you’ve got a situation where a lot of traders are looking at this through the prism of finding value in an asset that has been so heavily traded. Wall Street has an ETF that directly influences the market. You should start to see more of a buy on the dip attitude in general because I believe that the Bitcoin market is going to turn into something very similar to the S&P 500.

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