How to Sell Bitcoin With Paypal without paying any extra fee Bitcoin Price Charts Hint at the Most Exciting Breakout in Over a Year So is this the time to expect a new all-time high from the leading digital asset?
If Bitcoin closes above $9200 this week, it's an incredibly bullish sign — and perhaps the biggest since the 2017 bull run — for the coming weeks and months. The price of the top-ranked cryptocurrency by market capitalization, Bitcoin (BTC), is set to explode in the coming week providing the weekly candle opens above $9,200. This would signal the end of a 46-week descending channel that BTC/USD has been locked in since it nearly tapped $14,000 in the summer of 2019.
So is this the time to expect a new all-time high from the leading digital asset? At the time of writing, the price of Bitcoin to paypal usd is currently trading over $9,500. It almost seems inevitable that closing above $9,200 is a sure thing. But there are no definite results when it comes to Bitcoin.
However, with renewed post-halving retail interest it certainly does look likely, especially since Harry Potter author J.K. Rowling recently tweeting to her 14.6 million followers asking for someone to explain Bitcoin to her. This may certainly spark renewed public interest in BTC. Though, if crypto Twitter didn’t blow it by acting like baboons with cringeworthy replies that no one found funny, the chances of this would be higher.
While a move to the downside is always a possibility, if that happens in the week ahead, it would mean that the support on both the daily and weekly has failed, which would not be good for Bitcoin.
However, each week that support gets lower within the channel. So while I’m generally bullish on Bitcoin at the moment, I don’t think a breakthrough of $10K again would hold for long — not until we start seeing a new path emerge on the chart