How High Will Bitcoin Go: Get The Latest Top Forecasts
By Coinediction.com on Altcoin Academy
Bitcoin is displaying a bullish recovery over the last few days, attempting to challenge again the 2019 highs established around the resistance level $13,700. Crypto analysts remain split about the main factors driving the bullish run. Countless of predictions are made about how high will BTCUSD price will go, but only a few analysts have come forward with a reasonable plan.
Bitcoin price has soared more than $1,300 since the beginning of the week and it’s up almost $3,000 since two weeks ago. However, this intense bullish move is now at a crossover point. Many technical analysts are on the sideline anticipating for the current trading range to continue. The bullish run can only be sustained once we have a clear breakout.
The vast majority of Bitcoin experts have failed to provide us with a clear map, but TradingView respected analyst’s cryptcowboy and CryptoComes have put their technical analysis skills at work to share some bold predictions.
Let’s take a closer look.
cryptcowboy — The Triangle Pattern Signals Bullish Run
Crypto enthusiast @cristo1 believes the new bull market in the cryptocurrency space can start and there are enormous possibilities for the price of Bitcoin to start resuming the bullish trend that started with the key April breakout.
Bitcoin fanatic cryptcowboy has managed to discern a triangle pattern inside this messy consolidation. He also employs Elliott Wave analysis to help him gauge the price action. While he doesn’t outline any timeline for his prediction he does call out two possible short-term trading scenarios.
In order for the triangle pattern to yield some fruits, cryptcowboy points out that we need a clear break above the key resistance level $13,200. However, cryptcowboy urges his followers to stay nimble because as long as we trade below the upper trendline of the triangle pattern there is still a chance for another leg lower to complete an alternative Elliott Wave count.
Our next trader is not so optimistic about the future price of Bitcoin, but let’s examines what technical tools he uses to map out the Bitcoin price.
CryptoComes– Bulls are Feeling Insecure
Meanwhile, cryptocurrency trader Utoday_en is a little bit pessimistic about the future price of Bitcoin. He doesn’t jump on the bullish wagon, but he points out all the technical reasons why it’s wise to remain on the sideline until this weekly candle closes.
He reveals a big clue that will show if the bulls have the strength and if they are still in control after a “7-day bullish wave.”
According to his technical analysis skills, CryptoComes points out two factors that signal that weakness is crippling in. The recent Bitcoin price surge has stopped right at the upper limit of the downward channel. And secondly, the bearish candle with the long shadow that developed around the key milestone $12,000 indicates selling pressure.
These two factors combined have made this veteran analyst and Bitcoin contributor waiting for the weekly candle closing price to have more clues.
Looking over his past performance, Bitcoin trader CryptoComes has proven to have the accuracy of an elite sniper. CryptoComes managed to correctly forecast the price of Bitcoin four times out of the last five attempts.
Thank you for reading!
