Bitcoin Bull Market Forecast: Altcoin Daily Predicts $150k Price Target
Altcoin Daily, a cryptocurrency education and investment strategy platform, has released a video that forecasts a heavy bull market for Bitcoin. According to their September 1st update, the current price of $77,126.64 is on track to reach a target of $150,000 in the next two to three years.
The analysis provided by Altcoin Daily suggests that Bitcoin's price has tested lower Bollinger support near $77,131.67 and is capped upside by EMA50 resistance at $75,560.79. However, the longer trend is anchored by EMA200 support at $71,551.69.
The Moving Average Convergence Divergence (MACD) indicator has formed a death cross, indicating bearish momentum. Nevertheless, the Relative Strength Index (RSI) stands at 38.44, leaving room for continuation once the current price structure resolves.