{"id":573956,"date":"2024-02-08T10:08:13","date_gmt":"2024-02-08T10:08:13","guid":{"rendered":"https:\/\/wncen.com\/?p=573956"},"modified":"2024-06-11T08:33:42","modified_gmt":"2024-06-11T08:33:42","slug":"analyst-predicts-bitcoin-rally-to-45000-before-pullback","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/analyst-predicts-bitcoin-rally-to-45000-before-pullback\/","title":{"rendered":"Analyst Predicts Bitcoin Rally To $45,000 Before Pullback"},"content":{"rendered":"

Bitcoin (BTC)<\/span><\/a> has started riding the recent bull market wave and rising with fresh gains after weeks of sluggish momentum, with crypto analysts predicting more potential gains for the leading cryptocurrency asset in the coming days.<\/span><\/p>\n

Bitcoin To See A Correction After Surging To $45,000<\/span><\/h2>\n

A cryptocurrency expert from Cheeky Crypto has made a daring forecast for Bitcoin. The analyst revealed his recent projections during one of Cheeky Crypto’s latest episodes on <\/span>YouTube<\/span><\/a>.<\/span><\/p>\n

Related Reading: Bitcoin Price Targets $55,000 Following Bull Pennant Breakout<\/a><\/div>\n

His predictions came in light of the price of Bitcoin closing Wednesday on a positive note, leading the altcoin market as a whole with it. As the new trading day began, BTC’s price broke above the consolidation, signaling that bulls have returned to the fore.<\/span><\/p>\n

Cheeky Crypto analyst’s latest analysis delves into the present trading range for Bitcoin. In the analysis, the expert talked about a potential surge to the upside that will take BTC to <\/span>$45,000<\/span>.\u00a0<\/span><\/p>\n

\"Bitcoin\"
BTC stuck inside a trading range | Source: Cheeky Crypto on YouTube<\/a><\/figcaption><\/figure>\n

He defined the current stage as a continuation pattern and forecasted that after the range is done, there will be an upward breakout. The analyst mentioned that volume profiles have been declining throughout the market’s range, which gave him the belief that the price will increase to $45,000.<\/span><\/p>\n

However, he believes a notable correction will occur after <\/span>BTC<\/span><\/a> reaches the aforementioned price level. Meanwhile, given the positioning on the Stochastic Relative Strength Index (RSI), he anticipates a further decline to $30,000.<\/span><\/p>\n

He underscored that there is resistance at the 50 Exponential Moving Average (EMA) and support at the 50 Simple Moving Average (SMA) for BTC’s present trading range.<\/span> If the 50 EMA is breached, Bitcoin may test the 50 EMA once again, and the 200 EMA would provide extra support.<\/span><\/p>\n

Furthermore, the analyst looked at a series of indications throughout the hourly, daily, and weekly time periods. He noted key levels of support, resistance, and indicators to inspect for prospective market changes and momentum, like the RSI and the stochastic RSI.<\/span><\/p>\n

BTC’s Price Surges Above $44,000, Eyes $45,000<\/span><\/h2>\n

Amid the recent bullish rally encompassing the crypto market, Bitcoin’s price has risen over $44,000. This marks the first time this month that the crypto asset has reached this level, suggesting market recovery.<\/span><\/p>\n

The recent surge has sent quite a positive sentiment in the entire crypto space. It is believed that the rise might be due to the anticipation around the <\/span>Ethereum Spot ETFs<\/span><\/a> and BTC ETF <\/span>options<\/span><\/a>. Although, in comparison to last month, trend levels are still low, indicating that one should stay vigilant.\u00a0<\/span><\/p>\n

Related Reading: Bitcoin Nears $45,000 Level In Historic Price Surge Following Spot ETF Debut<\/a><\/div>\n

As of the time of writing, the price of Bitcoin has increased by over 4% in the past 24 hours, trading at $44,704. In addition, its market cap and trading volume have increased by over 4% and 47% in the past day.<\/span><\/p>\n

\"Bitcoin\"
BTC trading at $44,689 on the 1D chart | Source: BTCUSDT on Tradingview.com<\/a><\/figcaption><\/figure>\n
Featured image from iStock, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"

Bitcoin (BTC) has started riding the recent bull market wave and rising with fresh gains after weeks of sluggish momentum, with crypto analysts predicting more potential gains for the leading cryptocurrency asset in the coming days. Bitcoin To See A Correction After Surging To $45,000 A cryptocurrency expert from Cheeky Crypto has made a daring forecast for Bitcoin. The analyst revealed his recent projections during one of Cheeky Crypto’s latest episodes on YouTube. Related Reading: Bitcoin Price Targets $55,000 Following Bull Pennant Breakout His predictions came in light of the price of Bitcoin closing Wednesday on a positive note, leading the altcoin market as a whole with it. As the new trading day began, BTC’s price broke above the consolidation, signaling that bulls have returned to the fore. Cheeky Crypto analyst’s latest analysis delves into the present trading range for Bitcoin. In the analysis, the expert talked about a potential surge to the upside that will take BTC to $45,000.\u00a0 He defined the current stage as a continuation pattern and forecasted that after the range is done, there will be an upward breakout. The analyst mentioned that volume profiles have been declining throughout the market’s range, which gave him the belief that the price will increase to $45,000. However, he believes a notable correction will occur after BTC reaches the aforementioned price level. Meanwhile, given the positioning on the Stochastic Relative Strength Index (RSI), he anticipates a further decline to $30,000. He underscored that there is resistance at the 50 Exponential Moving Average (EMA) and support at the 50 Simple Moving Average (SMA) for BTC’s present trading range. If the 50 EMA is breached, Bitcoin may test the 50 EMA once again, and the 200 EMA would provide extra support. Furthermore, the analyst looked at a series of indications throughout the hourly, daily, and weekly time periods. He noted key levels of support, resistance, and indicators to inspect for prospective market changes and momentum, like the RSI and the stochastic RSI. BTC’s Price Surges Above $44,000, Eyes $45,000 Amid the recent bullish rally encompassing the crypto market, Bitcoin’s price has risen over $44,000. This marks the first time this month that the crypto asset has reached this level, suggesting market recovery. The recent surge has sent quite a positive sentiment in the entire crypto space. It is believed that the rise might be due to the anticipation around the Ethereum Spot ETFs and BTC ETF options. Although, in comparison to last month, trend levels are still low, indicating that one should stay vigilant.\u00a0 Related Reading: Bitcoin Nears $45,000 Level In Historic Price Surge Following Spot ETF Debut As of the time of writing, the price of Bitcoin has increased by over 4% in the past 24 hours, trading at $44,704. In addition, its market cap and trading volume have increased by over 4% and 47% in the past day. Featured image from iStock, chart from Tradingview.com<\/p>\n","protected":false},"author":608,"featured_media":565555,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,91596,1119,1144,78790,91598,10995,33242,8379,8323,1946,91597,87068,14763,91599,85676,91600,12413],"class_list":["post-573956","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-exchange-traded-fund-options","tag-btc","tag-btcusd","tag-btcusdt","tag-cheeky-crypto","tag-coinmarketcap","tag-ema","tag-etfs","tag-eth","tag-ethereum","tag-ethereum-exchange-trade-funds","tag-exponential-moving-average","tag-rsi","tag-simple-moving-average","tag-sma","tag-stochastic-relative-strength-index","tag-youtube"],"acf":[],"yoast_head":"\nAnalyst Predicts Bitcoin Rally To $45,000 Before 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Trust me, I\u2019ve had my share of experience with the ups and downs in the market but I never for once lost the passion to grow in the field. This is because I believe growth leads to excellence and that\u2019s my goal in the field. And today, I am an employee of Bitcoinnist and NewsBTC news outlets. My Bosses and co-workers are the best kinds of people I have ever worked with, in and outside the crypto landscape. I intend to give my all working alongside my amazing colleagues for the growth of these companies. Sometimes I like to picture myself as an explorer, this is because I like visiting new places, I like learning new things (useful things to be precise), I like meeting new people - people who make an impact in my life no matter how little it is. One of the things I love and enjoy doing the most is football. It will remain my favorite outdoor activity, probably because I'm so good at it. I am also very good at singing, dancing, acting, fashion and others. I cherish my time, work, family, and loved ones. I mean, those are probably the most important things in anyone's life. I don't chase illusions, I chase dreams. I know there is still a lot about myself that I need to figure out as I strive to become successful in life. I\u2019m certain I will get there because I know I am not a quitter, and I will give my all till the very end to see myself at the top. I aspire to be a boss someday, having people work under me just as I\u2019ve worked under great people. This is one of my biggest dreams professionally, and one I do not take lightly. 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