If these resistances are broken, the price of bitcoin could reach $ 16,000
If these resistances are broken, the price of bitcoin could reach $ 16,000 
According to many experts, the market is likely to reach $ 16,000 if the price of Bitcoin breaks the key resistance ahead.
Over the past week, many digital currencies have fallen in price, causing many investors to suffer losses. This is while in the past few days, we have witnessed price stabilization and reduction of fluctuations. But today, Bitcoin was able to record a significant jump and rise to $ 10,500.
As mentioned earlier, the entry of bitcoins into the consolidation phase has left traders unable to accurately determine the direction of future trends. The big question is, can Bitcoin break its $ 11,000 resistance? Or fills the gap created in the CME platform at $ 9,650?
Critical levels for bitcoin
The US dollar is our benchmark currency in this debate. The US dollar has once again shown signs of weakness, and this weakness has caused assets such as gold, bitcoin and silver to react upwards.
Weekly Bitcoin Price Chart:
Not looking at charts at higher timeframes is a mistake that is often made by investors and market traders. Looking at higher time frames and looking at the market in general is very important and shows us what the current market situation is.
For digital currencies and bitcoins, the overall market outlook is usually bullish. But traders need to keep an eye on key price levels.
Looking at the chart, it can be seen that the price of Bitcoin has not been able to break the significant area of $ 11,800 (weekly timeframe) during the last month. The failure of Bitcoin to overcome this resistance caused us to see a correction to the green area. This green area is currently one of the most important price areas.
If Bitcoin can provide strong support above the $ 8,850 to $ 9,300 level, the uptrend in the market will be confirmed. On the other hand, a fall below the green area raises the possibility that the price of Bitcoin will move to a higher correction to 7,400. It should also be noted that in 2016, before the uptrend, we saw long-term fluctuations along the channel margin.
As can be seen, the fluctuations of 2016 are very similar to the current situation. At that time, first a large jump occurred and then we saw fluctuations in a small range.
One side of this range is the recorded peak and the other side is the previous support area. Comparing the two times, it can be said that in the current situation, the upper side of the resistance range is $ 11,800 and the lower side is $ 9,200.
If the price of Bitcoin goes to break $ 11,800 after stabilizing, the probable target will be $ 16,000.
In the total market value chart of digital currencies, a healthy correction in an uptrend can be seen.
For the first time since June 2019, the total market value of digital currencies was able to record a higher peak (closing of the candle), which is considered a positive sign in the market. Meanwhile, many investors expect similar upward jumps in 2017.
Since the current market structure is only similar to the initial stages of the 2017 leap, this cannot be said to be true. The sentiment in the market is similar to the end of 2016.
Based on these points, it should be said that there is a possibility of a slow upward movement. In this possible slow motion, the previous resistances are broken and turned into support before ascending.
In this case, the total market value will still be lower than the 100 and 200 week moving averages and the main support will be formed in the areas below the current level.
In the 1-day timeframe, if the price of Bitcoin can stabilize in the range above $ 10,450, $ 10,900 and $ 11,000 will be the next most important areas. To break the uptrend, breaking $ 11,000 is crucial.
If the price of Bitcoin fails to cross this area, it is likely that its fluctuations will lead to a return of prices and an attempt to fill the CME gap at $ 9,600.
On the other hand, lowering the price below the $ 10,000 area will lead to a possible price correction and reaching $ 9,500. In this case, the CME fission is also closed.
However, it should be remembered that these predictions are still considered healthy corrective behaviors.
According to many experts, the market is likely to reach $ 16,000 if the price of Bitcoin breaks the key resistance ahead.
Over the past week, many digital currencies have fallen in price, causing many investors to suffer losses. This is while in the past few days, we have witnessed price stabilization and reduction of fluctuations. But today, Bitcoin was able to record a significant jump and rise to $ 10,500.
As mentioned earlier, the entry of bitcoins into the consolidation phase has left traders unable to accurately determine the direction of future trends. The big question is, can Bitcoin break its $ 11,000 resistance? Or fills the gap created in the CME platform at $ 9,650?
Critical levels for bitcoin
The US dollar is our benchmark currency in this debate. The US dollar has once again shown signs of weakness, and this weakness has caused assets such as gold, bitcoin and silver to react upwards.
Weekly Bitcoin Price Chart:
Not looking at charts at higher timeframes is a mistake that is often made by investors and market traders. Looking at higher time frames and looking at the market in general is very important and shows us what the current market situation is.
For digital currencies and bitcoins, the overall market outlook is usually bullish. But traders need to keep an eye on key price levels.
Looking at the chart, it can be seen that the price of Bitcoin has not been able to break the significant area of $ 11,800 (weekly timeframe) during the last month. The failure of Bitcoin to overcome this resistance caused us to see a correction to the green area. This green area is currently one of the most important price areas.
If Bitcoin can provide strong support above the $ 8,850 to $ 9,300 level, the uptrend in the market will be confirmed. On the other hand, a fall below the green area raises the possibility that the price of Bitcoin will move to a higher correction to 7,400. It should also be noted that in 2016, before the uptrend, we saw long-term fluctuations along the channel margin.
As can be seen, the fluctuations of 2016 are very similar to the current situation. At that time, first a large jump occurred and then we saw fluctuations in a small range.
One side of this range is the recorded peak and the other side is the previous support area. Comparing the two times, it can be said that in the current situation, the upper side of the resistance range is $ 11,800 and the lower side is $ 9,200.
If the price of Bitcoin goes to break $ 11,800 after stabilizing, the probable target will be $ 16,000.
Total market value status
In the total market value chart of digital currencies, a healthy correction in an uptrend can be seen.
For the first time since June 2019, the total market value of digital currencies was able to record a higher peak (closing of the candle), which is considered a positive sign in the market. Meanwhile, many investors expect similar upward jumps in 2017.
Since the current market structure is only similar to the initial stages of the 2017 leap, this cannot be said to be true. The sentiment in the market is similar to the end of 2016.
Based on these points, it should be said that there is a possibility of a slow upward movement. In this possible slow motion, the previous resistances are broken and turned into support before ascending.
In this case, the total market value will still be lower than the 100 and 200 week moving averages and the main support will be formed in the areas below the current level.
Bitcoin status in 1 day time frame
In the 1-day timeframe, if the price of Bitcoin can stabilize in the range above $ 10,450, $ 10,900 and $ 11,000 will be the next most important areas. To break the uptrend, breaking $ 11,000 is crucial.
If the price of Bitcoin fails to cross this area, it is likely that its fluctuations will lead to a return of prices and an attempt to fill the CME gap at $ 9,600.
On the other hand, lowering the price below the $ 10,000 area will lead to a possible price correction and reaching $ 9,500. In this case, the CME fission is also closed.
However, it should be remembered that these predictions are still considered healthy corrective behaviors.