Annual Forecast for Bitcoin (2022)
Since it peaked at the $69,000 all-time high on November 10, 2021, BTC has maintained a steady downward trajectory that bottomed out, for now, on January 10. That said, the benchmark cryptocurrency is currently on a rebound from the crash, as it received support from a combination of technical points coalescing around $40,000.
Notably, the flagship cryptocurrency now coasts around the critical trendline that has guided the bearish spiral since early November. That said, a sustained control above this line in the coming days and weeks should help BTC quell the bearish pressure and reposition to tap into the previous bullish cycle. This bullish projection receives support from the fourteen-month-long ascending trendline, the July pivot area, and the $40,000 support line.
It would be interesting to see how the price action of BTC plays out over the coming days and weeks as bullish sentiment returns. Personally, I expect to see BTC hit the popular $100,000 price tag in 2022.
Meanwhile, my resistance levels are at $45,000, $46,000, and $46,300, and my key support levels are at $43,000, $42,000, and $41,000.
Total Market Capitalization: $2.10 trillion
Bitcoin Market Capitalization: $837.8 billion
Bitcoin Dominance: 39.8%
Market Rank: #1
Notably, the flagship cryptocurrency now coasts around the critical trendline that has guided the bearish spiral since early November. That said, a sustained control above this line in the coming days and weeks should help BTC quell the bearish pressure and reposition to tap into the previous bullish cycle. This bullish projection receives support from the fourteen-month-long ascending trendline, the July pivot area, and the $40,000 support line.
It would be interesting to see how the price action of BTC plays out over the coming days and weeks as bullish sentiment returns. Personally, I expect to see BTC hit the popular $100,000 price tag in 2022.
Meanwhile, my resistance levels are at $45,000, $46,000, and $46,300, and my key support levels are at $43,000, $42,000, and $41,000.
Total Market Capitalization: $2.10 trillion
Bitcoin Market Capitalization: $837.8 billion
Bitcoin Dominance: 39.8%
Market Rank: #1
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