BTC/USD Price Analysis - $72,000 will be the first target

[katrina2]

Bitcoin broke above the $55,000, which completed an ascending triangle pattern. This bullish setup has a target objective at $61,000. The bears attempted to stall the up-move today, but the long tail on the candlestick shows strong buying on dips.

The 20-day EMA has turned up and the RSI has climbed close to the overbought area, indicating that bulls are in control.



If the bulls can drive the price above $58,300 again, the rising channel will open. The next major target on the upside is $72,000.

Another possibility is that the price may rise above the all-time high, but the bears will try to trap the aggressive bulls and attempt to pull the price below $52,000.

In order to reverse the trend, the bears will have to sink the price below the most recent swing low at $43,000.

[GreatArkansas]

I will not trade on these current level price of Bitcoin.
I am afraid if Bitcoin will make a double top bearish pattern from its previous all-time-high.
But on the other hand, if it will manage to break the previous all-time-high I'll be more bullish, and $70,xxx region is gonna be the next level for Bitcoin. Btw, good spot for the ascending triangle pattern, which is a bullish pattern.

[Lorence.xD]

I will not trade on these current level price of Bitcoin.
I am afraid if Bitcoin will make a double top bearish pattern from its previous all-time-high.
But on the other hand, if it will manage to break the previous all-time-high I'll be more bullish, and $70,xxx region is gonna be the next level for Bitcoin. Btw, good spot for the ascending triangle pattern, which is a bullish pattern.

Understandable that no one wants to trade at this price point but I think that it could be an opportunity to do leverage trading because it can be an opportunity to make more money just by believing that bitcoin will go higher, I hope that it will reach that because if that were to happen that means that a 6 digit prices is going to be a possibility. By the way, shouldn't this thread be on the Speculation?

[passwordnow]

I will not trade on these current level price of Bitcoin.
I am afraid if Bitcoin will make a double top bearish pattern from its previous all-time-high.
But on the other hand, if it will manage to break the previous all-time-high I'll be more bullish, and $70,xxx region is gonna be the next level for Bitcoin. Btw, good spot for the ascending triangle pattern, which is a bullish pattern.

It's very possible that it will break the ATH that it has made on top of $58k. And again, there's another resistance that it has to break and it's getting harder to back to that price this time. But I see it as a good scene, not that much good news and just the normal go for the market yet it has been back to $55k in ease.

Understandable that no one wants to trade at this price point but I think that it could be an opportunity to do leverage trading because it can be an opportunity to make more money just by believing that bitcoin will go higher

It's not no one that wants to trade at this point, it's that traders are cautious at these levels but as we see, there's still a huge volume that happens which means that there are a lot of traders that are committing trades at this level.

[Jating]

I will not trade on these current level price of Bitcoin.
I am afraid if Bitcoin will make a double top bearish pattern from its previous all-time-high.
But on the other hand, if it will manage to break the previous all-time-high I'll be more bullish, and $70,xxx region is gonna be the next level for Bitcoin. Btw, good spot for the ascending triangle pattern, which is a bullish pattern.

I saw the price reaching $57k, but it was short lived though. It was just the first attempt, and I will assume that there will be another one by the bulls within a week and see if we can break $58,300.

The $52k resistance was broken on the second attempt, and then after that the price goes up. It could make the same pattern again, so $70k is not that far. We are still in mid-March, let's see and hope that the bullish pattern will still build and continue.

[kotajikikox]

Bitcoin broke above the $55,000, which completed an ascending triangle pattern. This bullish setup has a target objective at $61,000. The bears attempted to stall the up-move today, but the long tail on the candlestick shows strong buying on dips.

The 20-day EMA has turned up and the RSI has climbed close to the overbought area, indicating that bulls are in control.

But assurance of braking the 72k is still a prediction right ? the pattern shows positively but we knew Nothing is certain until it happens.

If the bulls can drive the price above $58,300 again, the rising channel will open. The next major target on the upside is $72,000.

But with the big "IF"? though we had entered 56,000$ again early this day yet the value fluctuates more often now.

Another possibility is that the price may rise above the all-time high, but the bears will try to trap the aggressive bulls and attempt to pull the price below $52,000.

after drowning to 43k ? we are ready in another dump to 52k.

In order to reverse the trend, the bears will have to sink the price below the most recent swing low at $43,000.

So i only need to wait lowering to that swing again? and the correction will follow ? or the actual dump.

[Kittygalore]

I saw the price reaching $57k, but it was short lived though. It was just the first attempt, and I will assume that there will be another one by the bulls within a week and see if we can break $58,300.

The $52k resistance was broken on the second attempt, and then after that the price goes up. It could make the same pattern again, so $70k is not that far. We are still in mid-March, let's see and hope that the bullish pattern will still build and continue.

I want to believe that it will happen the second time because the 52k was broken then that means that we can break another resistance and after that we will speculate what prices the bitcoin will break next, a lot of things can happen in March and the following months so we have to be careful with our every move when it comes to bitcoin market, we might regret it along the way.

[Fundamentals Of]

I will not trade on these current level price of Bitcoin.
I am afraid if Bitcoin will make a double top bearish pattern from its previous all-time-high.
But on the other hand, if it will manage to break the previous all-time-high I'll be more bullish, and $70,xxx region is gonna be the next level for Bitcoin. Btw, good spot for the ascending triangle pattern, which is a bullish pattern.

Understandable that no one wants to trade at this price point but I think that it could be an opportunity to do leverage trading because it can be an opportunity to make more money just by believing that bitcoin will go higher, I hope that it will reach that because if that were to happen that means that a 6 digit prices is going to be a possibility. By the way, shouldn't this thread be on the Speculation?

If no one wants to trade with normal trading at this certain price range, the more reason no one wants to leverage also. If normal trading is avoided because of the high risk of uncertainty of the next price direction, the higher the risk with leverage trading. Leverage trading is even discouraged to most traders during normal Bitcoin price ranges.

And if you leverage trade because it is a way to make money simply by believing that Bitcoin will go higher, you will certainly burn your money.

[traderethereum]

Reaching $72k in the near will not easy as the price now is below $60k, and it will need more time to increase fast.
If we see what happens to the bitcoin price, the movements seem not too fast, and we already saw that bitcoin price makes a correction many times, so we might see another correction shortly before the price hits $70k.
Bit price needs to increase and break $60k because that bitcoin needs to break the hard price level. Even if the price is hit $60k, it does not mean that bitcoin prices can increase fast.
So we need to be patient for that, and even if we already draw a line for the price to reach $72k, it will not happen too fast.

[UnDerDoG81]

Only problem is, if it goes too fast bull market could end too early. I am on the side of the bears for now. Just check NUPL and Pi cycle indicator. They close to cross the critical mark.

[ivankoh]

I saw the price reaching $57k, but it was short lived though. It was just the first attempt, and I will assume that there will be another one by the bulls within a week and see if we can break $58,300.

The $52k resistance was broken on the second attempt, and then after that the price goes up. It could make the same pattern again, so $70k is not that far. We are still in mid-March, let's see and hope that the bullish pattern will still build and continue.

I want to believe that it will happen the second time because the 52k was broken then that means that we can break another resistance and after that we will speculate what prices the bitcoin will break next, a lot of things can happen in March and the following months so we have to be careful with our every move when it comes to bitcoin market, we might regret it along the way.

The main movement is still a trillion-dollar asset that has returned after the last 2-week correction after a jump from $ 44k.  We're back to a beautiful week, bitcoin is resilient close to its ATH.  If the bull run continues to run as long as the first 2 months of the year, we could see the limit breakout.  It would be good if we see bitcoin hit $ 65k before crossing that threshold psychological syndrome, it will go forward with friction.  I hope the cycle at this point remains is Hold and spice well so the next ATH is generated.

[TravelMug]

I saw the price reaching $57k, but it was short lived though. It was just the first attempt, and I will assume that there will be another one by the bulls within a week and see if we can break $58,300.

The $52k resistance was broken on the second attempt, and then after that the price goes up. It could make the same pattern again, so $70k is not that far. We are still in mid-March, let's see and hope that the bullish pattern will still build and continue.

I want to believe that it will happen the second time because the 52k was broken then that means that we can break another resistance and after that we will speculate what prices the bitcoin will break next, a lot of things can happen in March and the following months so we have to be careful with our every move when it comes to bitcoin market, we might regret it along the way.

The main movement is still a trillion-dollar asset that has returned after the last 2-week correction after a jump from $ 44k.  We're back to a beautiful week, bitcoin is resilient close to its ATH.  If the bull run continues to run as long as the first 2 months of the year, we could see the limit breakout.  It would be good if we see bitcoin hit $ 65k before crossing that threshold psychological syndrome, it will go forward with friction.  I hope the cycle at this point remains is Hold and spice well so the next ATH is generated.

We are inching on another psychological barrier, which is $60k, it's a whole number, we have seen it previously, when we hit $20k-$50k the price seems to tank.

So $72k might take a weeks to reach, but it could be touch this March. 20%++ more + the last high of $57k-$58k will be along that line. So let's see if the trend will continue.

[bitzizzix]

I saw the price reaching $57k, but it was short lived though. It was just the first attempt, and I will assume that there will be another one by the bulls within a week and see if we can break $58,300.

The $52k resistance was broken on the second attempt, and then after that the price goes up. It could make the same pattern again, so $70k is not that far. We are still in mid-March, let's see and hope that the bullish pattern will still build and continue.

I want to believe that it will happen the second time because the 52k was broken then that means that we can break another resistance and after that we will speculate what prices the bitcoin will break next, a lot of things can happen in March and the following months so we have to be careful with our every move when it comes to bitcoin market, we might regret it along the way.

The main movement is still a trillion-dollar asset that has returned after the last 2-week correction after a jump from $ 44k.  We're back to a beautiful week, bitcoin is resilient close to its ATH.  If the bull run continues to run as long as the first 2 months of the year, we could see the limit breakout.  It would be good if we see bitcoin hit $ 65k before crossing that threshold psychological syndrome, it will go forward with friction.  I hope the cycle at this point remains is Hold and spice well so the next ATH is generated.

We are inching on another psychological barrier, which is $60k, it's a whole number, we have seen it previously, when we hit $20k-$50k the price seems to tank.

So $72k might take a weeks to reach, but it could be touch this March. 20%++ more + the last high of $57k-$58k will be along that line. So let's see if the trend will continue.

The current bitcoin price is around 57K and hitting the 60k price is likely to happen in the next few weeks as it is very close to that price and I think bitcoin moves are still fine, and although there is still a small drop going on. but will slowly rise again.
and to reach 72k I think it is possible but not in the near future, and there is a possibility after this month or next month and slowly bitcoin movement will be more The trend is up slowly and will continue to rise to reach ATH for new ATH.

[pooya87]

The bear manipulators have been losing money for about a month now because of the slow ascend that they are trying so hard to go against. This slow speed is also creating a very solid support that prevents any future "bigger" drops below certain levels such as $55k and if the $60k level is broken in the following 10 days then it will become the next strong unbreakable support while price would start heading towards breaking the next objecting at $70k.

Keep in mind that as price goes higher these $10k rises become smaller in terms of percentage (for example from $20k to $30k was 50% rise while from $60k to $70k is only a small 16% rise) so we can expect a much faster speed when reaching $100k and above from now on.

[Hippocrypto]

It's too early to celebrate, just think of $60k at first place before moving towards $72k. This gonna be much awaited, and I guess it's not taking an easy steps reaching another ATH. Our analysis may fit on that range, sometimes failure on expectations matters when there's an emotional involvement.
We don't know how traders and investors managed themselves, because this about our future and finances.

[buwaytress]

Referencing OP I don't think the bears were quite done yet. Too soon to say the move to 61k's stalled (or rather, we might even say it's been successful). Even if we do break ATH I'm not sure we'll get the momentum we need to enter 60k territory yet.

Definitely does seem like Biden's stimulus package is getting some traction, but strange not bigger than you'd expect eh? He's signed it so it's a done deal, right?

[Oceat]

As the calendar of Bitcoin tells that this month will shed some blood in the charts so I guess we won't be seeing a new ATH this time around as the previous March last year tells us that it's time for a dip. Bear market is far to be called in this bullish year as you can see there's a lot of adoption going on lately to Bitcoin as the news tells.

It might be too soon to think the $72,000 to happen but maybe, maybe next month there is a chance for that to happen or nah, it would be another bloody month again after a few pump this month.

[2double0]

Understandable that no one wants to trade at this price point but I think that it could be an opportunity to do leverage trading because it can be an opportunity to make more money just by believing that bitcoin will go higher, I hope that it will reach that because if that were to happen that means that a 6 digit prices is going to be a possibility. By the way, shouldn't this thread be on the Speculation?

You should do leverage if you can do it with proper risk management and most significant, you should take less leverage in high risk trades. It is an opportunity but for both the sides, so when bulls are so happy, that is when bears attack and spoil the bulls' game. I think GreatArkansas spotted it correctly and btc lost at least 5% from its high and is now recovering. Should watch instead of trading this opportunity.

[el kaka22]

We have seen 58k as high once again, all time high is 58330 and today we have reached as much as 58060 and some places may even reach to ATH prices as well, but of course we can't officially say that number.

However someone hit it right on the head again and dropped the price, breaking an ATH price after a while becomes harder and harder, people end up selling at those levels because they see it as a big resistance point, every ATH has always been like that before and will probably be harder than any other price, it was such an easy task to go back from 43k levels that we dropped to 55k but now going to 60k suddenly becomes harder because we have never been here, one of them is huge and the other is small but that small one has psychological barriers. I think we are going to have a bit of a problem but we will definitely eventually break this ATH as well.

[Slow death]

In order to reverse the trend, the bears will have to sink the price below the most recent swing low at $43,000.

the few times that the price reached $ 43000 was the result of not being able to break the resistance that it has in the $ 58000, but now the price is managing to consolidate itself next to this great resistance that is in the $58000 and in my opinion this means that the will the price break the $58,000, the question here where he will encounter another great resistance after breaking the $58,000? before this thread i had already read about the  $72000 i even made a joke with this subject because honestly it is difficult to analyze something that i have never seen, in this case i have never seen $72000