The post Bitcoin Price Prediction: Here’s the Roadmap for the BTC Price for the Next 48 Hours! appeared first on Coinpedia Fintech News
Ever since the BTC price has risen above one of the key resistances at $64,000, the value has remained consolidated within a range. The bears had been somewhat dominant in the past couple of days but they seem to have remained dormant since the early trading hours. This could have offered a strong boost to the bulls, but the current trade setup suggests the price is stuck within a decisive phase.
Bitcoin made some corrections in the short term but the bulls remain vigilant as the support at $64,000 has been defended. However, the support zone is expected to become brittle after some time which may drain the price lower. The STF trade set-up suggests the price may drop to $63,300 during the weekend which may increase the volatility of the entire crypto space.
The short-term chart of the BTC price suggests the token is trading within a decisive triangle after breaking above the descending parallel channel. The bulls and bears have a restricted approach due to which the price remains tangled within the zone. Besides, the StochRSI is attempitng to trigger a rebound from the oversold zone, which is expected to offer a strong push to the BTC price. However, to trigger this, the price needs to drop to the lower support of the triangle, below $63,500.
The bulls appear to be waiting for a buying opportunity, while the bears are waiting for a higer target to extract the profits. The weekends have been a game changer for the Bitcoin price in recent times and hence the upcoming couple of days may drag the prices lower, followed by a notable rebound in the price.