Bitcoin and gold predictions, which investors are eagerly waiting for, are out. We will look to analyst Dhwani Mehta for gold predictions and analyst Aayush Jindal for Bitcoin predictions. Here are the details… Bitcoin (BTC) price and detailed market data from here you can see.
What to expect for gold?
The gold price remains in the hands of buyers this Thursday after a good rebound amid a hawkish Fed and concerns over Russia-Ukraine peace talks. According to experts, yesterday cryptocoin.com As the focus remains on the ongoing Russia-Ukraine peace talks, concerns about risks to global economic growth are emerging and affecting the gold price. Long-term correction in US Treasury yields and dollar gives support to gold price.
According to analyst Mehta, the “technical convergence detector” indicates that the gold price is looking to regain the upside moment to test the strong resistance at $1,940. The next bullish target is predicted to be the psychological barrier of $1,950. Looking further up, $1,955 could be on the bulls’ radar if the $1,952 pivot point is tested. According to the expert, the level that the optimistic ones should exceed is $ 1,960, while the immediate support is seen at $ 1,931. For buyers, the support line is shown at $1,917.
What’s next for Bitcoin?
On the other hand, Bitcoin started a fresh increase above the $40,000 resistance against the US Dollar. BTC remains supported and it could rise again above the $41,500 resistance, according to cryptocurrency analyst Aayush Jindal. The expert underlines that Bitcoin may continue to rise once it retakes the $40,000 level. The price is currently trading above $40,200, which is the 100 hourly simple moving average.
He points to the existence of a major bullish trend line forming with support near $39,850 on the hourly chart of the BTC/USD pair. He states that the pair may correct, but the bulls may remain active at $40,000. As technical indicators, it points to the following levels:
- Hourly MACD – The MACD is now losing momentum in the bullish zone.
- Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is well above the 50 level.
- Major Support Levels: $40,500 – $40,000.
- Major Resistance Levels: 41,200 – 41,600 – $42,500.
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