News View Non-AMP

Bitcoin Price Prediction: Explosive Moves Ahead As Hash Ribbon Indicator Signals Buy, $74k Soon?

Published by
Anjali Belgaumkar

Analyst Josh of Crypto World took to his latest analysis and confirmed that Bitcoin remains in a larger bull market. The analyst said that a Bitcoin buy signal has just been confirmed on the Bitcoin chart, while the price is also confirming a new short-term signal that warrants attention. 

The hash ribbons indicator, which tracks Bitcoin hash rate moving averages, has just flashed a buy signal. Historically, when these moving averages cross, indicating miners are regaining strength, it has been a reliable buy signal. 

Over the past year, this buy signal has appeared only once. In the last two years, it has appeared three times, each time followed by bullish price action. For instance, in August 2022, the signal marked the end of a bear market and led to a rally. Now, this buy signal has appeared again, suggesting potential for more bullish price action in the near term.

Market Volatility and Key Levels

Expect some volatility with Trump’s upcoming Bitcoin comments. In the short term, Bitcoin has rebounded from the $63,000-$64,000 support zone. If there is a daily candle close above $68,300, this could signal a continuation of the bullish trend. Breaking below this support could end the short-term bullish trend.

Bitcoin faces resistance between $67,000 and $68,300. Overcoming this resistance could lead to a move toward the all-time high range of $72,000-$74,000. However, short-term struggles at this resistance are possible, leading to sideways consolidation or pullbacks.

A new hidden bullish divergence has been confirmed, pointing to potential bullish continuation. However, it’s essential to watch key liquidity levels. There’s considerable liquidity around $63,300 and $67,500-$69,000, which could influence price movements.

Also Read: Bitcoin Conference 2024: Robert F. Kennedy Jr. Announces 550 Bitcoin Daily Treasury Plan

Anjali Belgaumkar

Writer by choice, CryptoCurrency Writer, and Researcher by chance. Currently, focusing on financial news and analysis, as well as cryptocurrency news and data. One may not call me a crypto “Enthusiast” but trust me I'm getting there.

Recent Posts

Holo Price Prediction for 2025-2030: When Will $HOT Reach $1?

Story Highlights The price of Holo (HOT) today is $0.0009571 HOT price may reach a…

April 20, 2025

What Happened In Crypto This Week?

 The cryptocurrency market experienced a whirlwind of developments this week. From Bitcoin price volatility and…

April 20, 2025

Firing Powell Could Set Dangerous Precedent and Hurt Crypto, Warns Pompliano

Crypto investor Anthony Pompliano recently criticized President Trump's recent threat to fire Fed Chair Jerome…

April 19, 2025

XRP Price Prediction 2025

XRP is currently trading near $2 after bouncing back from $1.61, with many traders viewing…

April 19, 2025

XRP News: ETF Approval Could Suck Up Supply Like a “Vacuum” & Pump Price Higher

A popular crypto analyst from the Good Morning Crypto podcast has made a strong prediction…

April 19, 2025

The SEC Rate Cuts Could be on the Horizon- Will XRP Price Explode by 45% This Month?

The XRP price has been displaying magnificent strength as the levels have been held above…

April 19, 2025