• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Breaking News: BREAKING: Saylor's Strategy Misses S&P 500 Inclusion, Robinhood Takes Spotlight
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Bitcoinist.com
No Result
View All Result
Breaking News: BREAKING: Saylor's Strategy Misses S&P 500 Inclusion, Robinhood Takes Spotlight

Bitcoin At $20K by New Year? These Two “Important” Indicators Say So

Yashu Gola
by Yashu Gola
4 years ago
·
Posted in Bitcoin
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

A short-term slipover in recent sessions has not refrained Bitcoin from eyeing $20,000 by the end of this year.

Independent financial analysis firm TradingShot wrote in its recent analysis that it sees the cryptocurrency recovering its all-time high in 2020. The agency cited two technical setups that have dictated the Bitcoin price behavior in the last 1.5 years, adding that their validation for the rest of this year could push the cryptocurrency towards $20,000.

Bitcoin Confluence

The first of these technical indicators is a Hyperbola – a long arc that has acted as Bitcoin’s resistance since June 2019. This year, the cryptocurrency repeatedly tried to break above the curvy structure, with the latest attempt going as back as November 5, 2020.

Meanwhile, the Hyperbola resistance received additional strength from Pitchfork, the second technical indicator containing a string of Fibonacci levels acting as supports and resistances during Bitcoin’s uptrend. The chart below shows the two setups operating in unison.

Bitcoin, cryptocurrency, BTCUSD, BTCUSDT
Bitcoin long-term setup, as presented by TradingShot. Source: BTCUSD on TradingView.com

The chart structure above illustrates a sequence of identical fractals inside the Pitchfork setup. The technical indicator projects diagonal Fibonacci levels, made from the swing high of $13,880 to the swing low of $3,850. These levels have dictated Bitcoin’s medium-term supports and resistances while keeping the cryptocurrency en route to testing the Hyperbola resistance.

TradingShot offered a trading setup:

“Every contact with that Hyperbola (even the marginal miss) ended up with a pull-back that ranges from the 0.236 Fib to as low as 0.618 Fib (not counting the March 07 – 12 COVID meltdown which is non-technical). The trend-line we need to keep an eye on is the 40° angle from each bottom.”

‘When this breaks, the price pulls back. This can take place above the Hyperbola and the 0.236 Pitchfork Fib, so be ready to apply it,’ he added.

Topping at $20K

The parabola-pitchfork combo anticipates that Bitcoin could go a short-term correction from levels above $15,000 to as low as $12,100 (the 0.618 Fib level). But from there, the cryptocurrency could again pursue an uptrend while maintaining its price floor above the “40° trendline.”

The bullish momentum – again – expects to get exhausted near the parabola. Only this time, the curve is sitting near the $20,000-level.

TradingShot raised his bullish outlook of Bitcoin, also based on the reading of its Relative Strength Indicator. The price-momentum indicator makes higher highs whenever Bitcoin touches the 0.236 Fib level.

“[We] get the impression that if the 0.236 Fib breaks, the RSI has enough strength to allow a move to the ATH ($20,000) before the start of 2021.”

Bitcoin was trading near $15,500 at the time of this writing.

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Yashu Gola

Yashu Gola

Follow

Globetrotter Yashu Gola has been working as a financial/crypto market journalist since 2013. He is an information technology graduate, a cryptography junkie, a filmmaking enthusiast, and an avid reader of Jon Erickson, Agatha Christie, JK Rowling, and Isaac Asimov.

Full Profile

Related Posts

Bitcoin Buying Frenzy Ahead As Eric Trump Predicts ‘Floodgates Are Opening’

Bitcoin Buying Frenzy Ahead As Eric Trump Predicts ‘Floodgates Are Opening’

8 hours ago
Bitcoin

Corporate Bitcoin Allocation Climbs As Companies Invest 22% Of Profits: Study

1 day ago
Bitcoin

Bitcoin Payments Now Accepted By Top UAE Developer For Real Estate

2 days ago
cours-or-nouveau-record-chute-btc

Record de l’or et chute du Bitcoin : que se passe-t-il ?

3 days ago
Metaplanet

Metaplanet Pushes Bitcoin Holdings Over $2 Billion With New Purchase

4 days ago
Bitcoin

Bitcoin Mining Can’t Keep Up: Companies Buying At Quadruple Pace – Report

4 days ago
Please login to join discussion

Premium Sponsors

Press Releases

  • minwer

    XRP Holders Can Earn $10,000 a Day Through COME...

    6 hours ago
  • BTC prices hit a two-week high, and holders flocked to GMO...

    6 hours ago
  • miner

    Cardano (ADA) Market Outlook: Long-term Potential Passive...

    7 hours ago
  • etnminer

    How to Play to Earn Crypto in 2025: Discover 6 Most...

    12 hours ago
  • miner

    BAY Miner Cloud Mining App Launches with ETH and BTC Users...

    13 hours ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

About Us

  • Advertise
  • Contact us
  • Editorial Policy
  • Privacy Policy
© 2025 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
      • Crypto Betting
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Advertise

© 2025 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.