The king of cryptocurrency, Bitcoin, has started to form its long green candles on the daily chart again, and investors are smiling. So what do the experts’ current predictions for BTC indicate? Will the current uptrend continue? What price will it reach? Let’s take a look at the current outlook for IMX Coin and BTC.
Bitcoin (BTC) Expert Opinions
BTC‘s rapid price increase has significantly affected market sentiment. Material Indicators CEO and co-founder Keith Alan has warned investors that a new resistance could form between the current price and $50,000. Under normal circumstances, $50,000 was not expected to become a strong resistance, and experts inspired by past performance were targeting levels around $52,000.
The nearest resistance area was tested within 24 hours at the $48,970 region. On the Binance exchange, the price approached this area but could not surpass it. The upward 20-day exponential moving average ($44,164) and positive RSI look promising for the continuation of the upward movement.
If the bulls make a new attempt and overcome the resistance, a new movement to $52,000 and $60,000 could begin. Conversely, if rapid profit-taking starts, we could see panic selling in ETFs for the first time. Investors who have entered the market in the last month are pushing the price up, but their psychology is not yet clearly understood, and their reaction to quick drops could increase volatility.
On the downside, levels of $44,700 and potentially deeper bottoms are possible. The four-hour chart indicates the possibility of an intermediate correction, and we could see a scenario where a rapid drop to $44,700 is followed by a bounce from there.
IMX Coin Price Prediction
On February 10, the price surpassed the long-term resistance of $2.6, making IMX Coin one of the altcoins of renewed interest. Investors periodically show intense interest in such altcoins as they bring proportionally larger gains, and IMX could continue to rise for a while with this perspective.
If the price stays above $2.85 and the $2.6 level can be maintained as strong support in sales, the bears will have a much harder time. Above this, there is a possibility of rising up to $3.5. In the opposite scenario, if the bears do not see a strong defense, they could pull the IMX Coin price down to $2.34 and $1.75.
