The world, and most importantly, the U.S. could embrace Bitcoin in 2022, setting the stage for a Bitcoin price prediction that proposes the crypto might outperform the record-setting year, 2021. Bitcoin price is, at the time of this writing, in correction after breaking all-time high BTC price prediction.

For sure, Bitcoin occupies a special place in the heart of crypto investors, and this fact makes every Bitcoin price prediction 2022 as controversial as it can get. Currently, BTC is showcasing signs pointing to a bullish Bitcoin price prediction 2021. In this BTC price prediction, let’s see what’s next for Bitcoin.  

Bitcoin Price Prediction | Introduction

At the time of going to press, Bitcoin was trading at $50,434, according to data available on CoinMarketCap. Bitcoin briefly lost its trillion-dollar valuation for a market cap of more than $950 billion, but the fully diluted market cap remains above $1.05 trillion.

For the better part of 2021, Bitcoin price prediction narratives were as brilliant as investors expected them to be. The crypto made a debut above $60,000, cementing its authority within the market and leaving the floor open for wilder Bitcoin price prediction 2022 forecasts.

Bitcoin Price Prediction: Technical Analysis

Let’s start the BTC price prediction with a bit of technical analysis to explore the BTCUSD market at the monthly price chart:

Month Price November 2021 67,566.83                    October 2021 65,992.84                    September 2021 52,633.54                    August 2021 49,546.15                    July 2021 42,235.55                    June 2021 40,406.27                    May 2021 58,803.78                    April 2021 63,503.46                    March 2021 61,243.09                    February 2021 57,539.95                    January 2021 40,797.61                    December 2020 29,001.72                   

The Bitcoin prices chart above shows the key support level, which is situated at the peak of 2020 bullish trend. Since the start of 2021, the battle has been raging between the buyers and sellers, but the level around $30000 has managed to remain steadfast, thereby giving the right to assert this as the most significant support level.

A conclusion can be drawn at this point to suggest $30000 support could be tested but not broken in 2022. This level was the buy opportunity Bitcoin presented and based on the current price. We might conclude that BTC is hovering above another significant buy zone as the coins go into a trading range.

At this point, the BTC price prediction suggests the coin is providing side-lined buyers with another opportunity to buy before an uptrend looks likely. This resulting price action is likely to send BTC to post a higher high in 2022.

Bitcoin has set up a trading range from $68978 and $65468 to $43451 and $38664 after a correction in December 2021. Since setting up this range, Bitcoin (BTC) has created lower lows, indicating waning bullish momentum and buyer activity, but does not provide evidence of an increase in seller activity and momentum.

Source: TradingView

Currently, the price is retesting the 79% retracement level for the first time in nearly three months. This retest is well below the 50% level, perhaps proposing the Bitcoin price prediction 2022 narrative that the coin is selling at a discount price.

A spike in buying momentum is expected at this level, which Bitcoin price prediction 2021 suggest could trigger an 11% run-up back to $68000. If the buy orders pile up towards the end of 2021, the Bitcoin price prediction today that points to the return of the all-time high will be asserted.

A daily close below this level, however, will create a lower low on the BTCUSD chart and invalidate the bullish Bitcoin price prediction explained above. If BTC fails to stay within the trading range, it will indicate an increase in selling pressure.

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