Bitcoin 'One Resistance Level Away' From $60,000 Rally, Analyst Predicts As On-Chain Volume Spikes
Portfolio Pulse from Khyathi Dalal
Technical analyst DonAlt predicts Bitcoin (BTC) is one resistance level away from a rally to $60,000, citing the $44,000-$45,000 range as the key hurdle. On-chain volume for Bitcoin reached its highest level since September 2022, indicating increased interest. Bitcoin is currently facing resistance at $44,000. The upcoming Bitcoin halving and recent inflows into digital asset investment products, predominantly in Bitcoin, support a bullish outlook.
February 05, 2024 | 3:08 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Bitcoin is predicted to rally to $60,000 if it overcomes the $44,000-$45,000 resistance, supported by high on-chain volume and investment inflows.
The prediction of a rally to $60,000 is based on technical analysis by DonAlt, highlighting the $44,000-$45,000 resistance level as the key barrier. The bullish outlook is further supported by the highest on-chain volume since September 2022 and significant investment inflows into Bitcoin, indicating strong market interest and potential for upward price movement.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100