Crypto Analyst Says Bitcoin Price Could Hit $100,000
By Coinediction.com on ALTCOIN MAGAZINE
As Bitcoin price is consolidating the multi percentage gains made through 2019, one Tradingview contributor and crypto analyst CryptoManiac101 believe BTCUSD price will hit $100k within the next 12 months. Most altcoins are following the footsteps of Bitcoin, which is supercharging the rally in the cryptocurrency space. This, in turn, self reconfirms the Bitcoin bullish momentum.
In the near term, Bitcoin is still trapped in a wide consolidation area between support level and the key psychological number $10,000 and resistance level and 2019 high $13,745. But, one prominent analyst tntsunrise has managed to correctly forecast where Bitcoin is heading in the short-term.
Moving forward, we’re going to outline what arguments these prominent analysts and experts bring to justify their respective forecasts.
CryptoManiac101 — Bitcoin Next Move $8.5k or New ATH
A popular Bitcoin analyst on Twitter @_Crypto_Maniac_ shared with his followers a very optimistic forecast that not only sees BTCUSD to new all-time highs, but it sees the $100k mark being reached within a 12 month period.
This respected analyst sees Bitcoin bullish trajectory towards its $100,000 target similar to the extreme 2017 rally that pushed BTCUSD to its current all-time high near the big figure $20,000. Only time will tell as to whether or not Bitcoin is ready for prime time and generate another healthy parabolic move.
CryptoManiac101 comes out with two alternative short-term price scenarios for the price of Bitcoin. In the first case, this crypto fanatic sees Bitcoin reaching a new all-time high within the next 2–4 weeks, which is extremely bullish. However, the alternative viewpoint sees BTCUSD retracing towards the support level $8,500 and stay sideways until Q4 when Bitcoin will be ready for prime time and break to new ATH.
CryptoManiac101 has a well-established track record and out of the last 5 Bitcoin predictions he managed to correctly map the price of Bitcoin on three of these occasions.
Let’s now move forward and see why our next trader was able to correctly map out the Bitcoin range bound activity.
tntsunrise — A Strategy To Trade The Range
Cryptocurrency market analyst @JackSunrisejack was courageous enough to map out a clear path for the price of Bitcoin. The analysis was published on TradingView and shared among his followers at the time when most crypto pundits were still scratching their heads on how to tackle down the current consolidation.
tntsunrise employs a very simple technical analysis approach that gives him enough clues to make super-accurate trading predictions. His strategy is based on the interaction between the supply and demand forces. What he is proposing with his strategy is to take advantage of the Bitcoin volatility, which in a range-bound market normally is bigger.
This Bitcoin analyst highlights two possible scenarios that involve buying and selling a breakout of an emerging symmetrical triangle. Since Bitcoin price already broke above the triangle the buy order was triggered and eventually traders were able to take advantage of the subsequent volatility post-breakout. Bitcoin price shies away from the $13,000 initial target, but we’re still in the reach zone.
Don’t just believe our words, just check out his trading history that testifies for itself. This crypto analyst managed to show incredible analytical skills in predicting what the future will look like. He managed to identify 4 correct Bitcoin forecasts and only one analysis that missed its target.
Thank you for reading!
