Bitcoin Forecast (BTC/USD) and Longterm Prediction (2020)

In this article we make a Bitcoin price forecast and long-term prediction. We would like to give an assessment of the future price development of the Bitcoin using the daily, weekly and monthly charts. We also look at the long-term chart for BTC/USD, which is the quarterly chart and yearly chart with a logarithmic scale.  The basis of our analysis is the Price Action and Technical Chart Analysis.

The charts used are from TradingView and the prices are from Coinbase .

Bitcoin Forecast: Daily Chart

Last update: September 21, 2020

Bitcoin (BTC/USD) reached the yearly high around in August around the same price level of the 2019 August high at $12320. In the last weeks BTC/USD dropped to the September low at 9813. Since then we see a trading range around the major support zone of 10428/10540. BTC/USD fell below the 50 days simple moving average (green line).

Bitcoin forecast daily chart
Bitcoin forecast: Trading range around the 10500 support zone (Chart: TradingView)

Resistance: 11200 | | 12086 | 12320
Support: 10500 | 10428 | 10000 | 9813

Bitcoin forecast: The daily chart of Bitcoin looks neutral. We expect to see a continuation of the trading range around the 10000/10500 price level. A drop below the September low could lead to more weakness with a target around the 200 days simple moving average (yellow line) at $9200. A price advance above 11200 could lead to more strength with a target at the September high (12086).

Bitcoin Forecast: Weekly Chart

Last update: September 21, 2020

Bitcoin (BTC/USD) on the weekly chart is still showing an uptrend. But strong resistance around the 2019 August high has led to a technical correction and drop down to 9813 (September low). BTCUSD has found support on the 20 weeks simple moving average (blue line). We can also see a major support zone around the psychological important 10000 level.

Bitcoin/US-Dollar weekly chart forecast
Bitcoin price prediction: Weekly chart showing support zone around 10000 (Chart: TradingView)

Resistance:  12086 | 12320
Support: 10540 | 10522 | 10428 | 9813

Bitcoin forecast: The weekly chart of Bitcoin looks positive and more upside potential is probable. Next price target could be the September high at 12086. A price drop below 10000 and especially below 9800 could turn the positive chart picture to neutral or negative.

Bitcoin price prediction: Monthly Chart

Last update: September 21, 2020

On the monthly chart BTC/USD is moving in an defined uptrend and has reached the yearly high at 12486. In September we have seen a strong correction of the bitcoin price falling to the September low at 9813.

BTCUSD predictions monthly chart
Bitcoin price predictions: Correction of the defined uptrend (Chart: TradingView)

Resistance: 12086 | 12486 | 13900
Support: 10500 | 10000 | 9813

Bitcoin forecast: The monthly chart of Bitcoin looks positive and more upside potential is possible. Next price target could be the August high at 12486. In this case we would see a confirmation of the uptrend opening more potential up to the 2019 high at 13900. Only a price drop below 10000 and then the September low at 9813 could turn the positive chart picture to neutral or negative.

Bitcoin Price Prediction: Quarterly Chart (3-months-chart)

Last update: August 10, 2020

In the 3-month chart shown here, we can see that BTC/USD has passed the important 10000 level and is approaching the 12000 level.

BTC/USD prediction quarterly chart
Bitcoin price prediction: showing uptrend with next target 2019 high? (Chart: TradingView)

Resistance:  12320 | 13868
Support: 10522 | 10000

Bitcoin Prediction: This price chart is looking positive and more upside potential is possible. Only a drop below 10000 could turn the positive chart picture to neutral or negative.

BTC/USD price prediction: Yearly Chart (12-month-chart)

Last update: August 10, 2020

In the yearly chart shown here, we can see that BTC/USD has passed the important 10000 level and is approaching the 12000 level.

BTCUSD forecast yearly chart
BTC/USD long-term forecast: (Chart: TradingView)

Long-term resistance:  13868
Long-term support: 10522 | 10000

Long-term Prediction: If we consider the stable and intact upward trend with strong upward momentum since the low of 2012, probability seems to favor a further increase in Bitcoin prices. The next long-term price target could therefore be the 2019 high at $13,868. This positive long-term outlook would become obsolete when bitcoin prices fall below the low of 2018 at $3128.89.

What is the current price of Bitcoin (BTC) ?

You could check the current price of Bitcoin (BTC) here.

About Bitcoin

Bitcoin is the original cryptocurrency released in 2009 as open-source software. It is a digital currency predicated on cryptographically secure transactions, a proof-of-work consensus model, and a decentralized, P2P distributed ledger network. Bitcoin’s distributed ledger is the first blockchain — a shared and distributed timestamped ledger of data blocks connected through a chain of cryptographic hashes — and solved the double spend problem that had plagued previous iterations of digital currencies.

Disclaimer: This article is not trading advice and should not be construed as such. Always consult a trained financial professional before investing in cryptocurrencies, as the market is particularly volatile. 

*This price prediction is based on the data collected from various sources. This should not be considered as an investing parameter and user should do their own research before investing.

Do you think our predictions are accurate? What are your thoughts on the methods used to reach our conclusions? Let us know in the comments below.

Leave a Reply

Your email address will not be published. Required fields are marked *

Scroll to Top