Home Crypto Bitcoin Bitcoin: BTC/USD (BTC=X) Targets $30,000 In First Day Of Trading 2021

Bitcoin: BTC/USD (BTC=X) Targets $30,000 In First Day Of Trading 2021

$BTC #Bitcoin #Crypto #Cryptocurrencies #FX #Trading #Markets

Ticker: BTC=
Price: $29,333.01

Bitcoin Outlook

Bitcoin-U.S. dollar prices are near steady in early U.S. trading Thursday but did hit another record high overnight. Bulls are leaving 2020 behind with a powerful head of steam heading into the new year

The Easy Way to Make Money from Crypto

A strong price uptrend remains in place on the daily bar chart. Bulls have the solid technical advantage and there are no early clues that a market top is close at hand. Do expect higher volatility on the upside and downside in the near term.

Technical Indicators

Overall, the bias in prices is: Upwards.

Note: this chart shows extraordinary price action to the upside.

By the way, prices are vulnerable to a correction towards 22,860.93.

The projected upper bound is: 31,817.59.

The projected lower bound is: 27,327.93.

The projected closing price is: 29,572.76.


A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 8 white candles and 2 black candles for a net of 6 white candles. During the past 50 bars, there have been 31 white candles and 19 black candles for a net of 12 white candles.

Three white candles occurred in the last three days. Although these candles were not big enough to create three white soldiers, the steady upward pattern is bullish.

Momentum Indicators

Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 94.5719. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a sell 4 period(s) ago.

Relative Strength Index (RSI)

The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 88.39. This is where it usually tops. The RSI usually forms tops and bottoms before the underlying security. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 36 period(s) ago.


The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a buy 16 period(s) ago.

Rex Takasugi – TD Profile

FOREX BTC= closed up 322.111 at 29,309.711. Volume was 89% below average (consolidating) and Bollinger Bands were 194% wider than normal.

Open        High       Low         Close         Volume
28,987.600  29,536.471 28,629.801  29,309.711    76,359
Technical Outlook
Short Term:        Overbought
Intermediate Term: Bullish
Long Term:         Bullish
Moving Averages: 10-period     50-period     200-period
Close:           26,519.13     20,526.79     13,450.14
Volatility:      61            70            54
Volume:          921,719       838,353       680,269

Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.


FOREX BTC= is currently 117.9% above its 200-period moving average and is in an upward trend. Volatility is high as compared to the average volatility over the last 10 periods.

Our volume indicators reflect very strong flows of volume into BTC= (bullish). Our trend forecasting oscillators are currently bullish on BTC= and have had this outlook for the last 16 periods. Our momentum oscillator is currently indicating that BTC= is currently in an overbought condition.

Previous articleHello 2021, Goodbye 2020
Next articleFirst Win for Merchant Navy Brother
S. Jack Heffernan Ph.D. Economist at Knightsbridge holds a Ph.D. in Economics and brings with him over 25 years of trading experience in Asia and hands on experience in Venture Capital, he has been involved in several start ups that have seen market capitalization over $500m and 1 that reach a peak market cap of $15b. He has managed and overseen start ups in Crypto, Mining, Shipping, Technology and Financial Services.