bitcoin predictions today

Bitcoin short-term and long-term stock market signals

Stock market signals on the Bitcoin market analysis, weekly to quarterly trends using WD Gann time cycles.

Bitcoin short-term forecasts

With the expiry of the Minimum Square in the week of 01 January 2023, the Bitcoin cryptocurrency market has restarted, albeit slowly, a new upward phase, which is still continuing today.

We can observe from the picture just above how in the first stage of the bullish trend advance, the 1X1 corner drawn in red intercepts the weekly average return well and the various static resistance levels limit Bitcoin’s propulsive force.

After a lateral phase that lasted between 16 April and 22 October 2023, the autocorrelation of returns has become much more pronounced, with the acceleration force doubling from the previous stage.

Prices remained on the 2X1 corner drawn in yellow until the week of 14 January 2024.

On that occasion the cryptocurrency at the static Octave resistance at 49,054 suffered a strong deceleration, falling back to the 1X8 descending corner support at 38,500.

The stock market signal of the Minimum Square expired in the week of 28 January 2024 gave a new positive impulse, accelerating the bullish phase even more.

In fact, since the beginning of February, the positive returns began to perform an 8X1 angle, plotted in blue, i.e. the growth was a good 8 times the natural rate expressed by the Drift.

The uptrend continued until the expiry of the partial of the 90-week Square, in conjunction with the 1X16 and 1X2 angles drawn in blue and yellow in the picture at 73,802.

The bearish break that occurred during this last signal led to a new phase of negative laterality.

The next trading signal coincides with the week of 02.06.2024.

For prices below 65,880 the Bitcoin dynamic will remain negative sideways with first supports in the area 62,430; 60,190.

While recovery above 73,830 will indicate the emergence of a new progressive strength: resistances in the 76,700 area.

Bitcoin monthly stock signals

Bitcoin’s medium-term trend is well described by the radiation of the 1X2 and 1X3 angle vectors plotted in yellow and green.

The trend correction that started in November 2021 ended on the ascending Zero 1X4 angles in November 2022 at 15,480.

From the beginning of 2023, prices started to rise again, at first holding on the ascending 1X1 angle, plotted in red.

Subsequently since October 2023, the growth has been above the 2X1 corner drawn in yellow.

The last monthly set-up coincided with the month of April 2024.

Although during this month the dynamic ended on the inside, in May we witnessed a bearish break-up of the March low, but with a very positive close.

The reaching of 56,480 will confirm the weakness of the cryptocurrency with supports in the area of 54,680; 47,990.

While the continuation of growth above 73,840 will indicate the interruption of the negative laterality for the start of a new growth phase: resistances in the 75,300 area.

Long-term Bitcoin technical analysis

The long-term trend is upward and the quotations have reached the partial upper part of the quarterly bullish channel.

In the first quarter the price growth stopped momentarily at the resistances in the area 73,960.

The next obstacles are in the area 79,000; 87,500.

Supports are at 48,400-48,000.

Forecasts on Bitcoin in the short and long term were made using the WD Gann technique and the Top Trader(c) exchange chart software.