Bitcoin Indicator Forecast Calls For $46K, New All-Time Highs Possible

Bitcoin price like a flash of lightning shot up by more than $5,000 in the last 48 to 72 hours, and the forecast just turned from cloudy with a chance of downside to much sunnier days for bulls ahead. In fact, one technical indicator points to at least $46K from here, and shows that there’s very little resistance above this left stopping Bitcoin from continuing to set new all-time highs. The Current Crypto Market Price Action “At A Glance” When markets move sideways for an extended period of time, it can be tricky to tell which direction the asset will head next once the range ultimately breaks. Throw a speculative asset like Bitcoin or other cryptocurrencies into the mix, and even sideways price action can feel like a rollercoaster of emotions. After a frightening sweep lower, anyone who managed to stay on this volatile ride could be ready to climb to new highs, according to a market forecasting tool. Related Reading | The Fibonacci Sequence And Why $30K Bitcoin Is So Important The tool, created by journalist Goichi Hosoda, is called Ichimoku Kinko Hyo – which translates loosely in Japanese to “a glance at a chart in equilibrium.” The extremely busy looking tool comes equipped with a variety of spans – some lagging, some leading, and others moving right along with price action. The next target is the Kijun-sen at $46K | Source: BTCUSD on TradingView.com The weekly Bitcoin pr...