Bitcoin Could Soon Surge Towards $13,000: Historically Accurate Analyst
Bitcoin’s ongoing drop has been scaring many crypto traders. Perusing forums where cryptocurrency traders meet, there are many analyses being shared suggesting that BTC could soon drop towards the pivotal $10,500 support level, then even lower.
But according to a historically accurate analyst, this isn’t likely to pan out.
He noted in an analysis published on August 21st that Bitcoin is poised to drop towards the low-$11,000s, where there is pivotal support, before moving higher towards $13,000 by the first week of September:
Chart of BTC's price action over the past few weeks with an analysis by crypto trader "SmartContracter" (Twitter handle). Chart fromTradingView.com
The trader that shared this analysis is the same one that predicted Bitcoin would bottom 2018’s bear market at $3,200 six months before it actually did. He was seemingly the only one who made such an accurate prediction during the bear market.
Fundamentals Also Suggest More Upside Is Imminent
The fundamentals also suggest that Bitcoin is poised to move higher in the weeks ahead, likely above the local high at $12,500 that was established on Monday.
Prominent Bitcoin proponent “Vortex” noted that there are three clear signs that Bitcoin is primed to begin a “multi-year bull run” that is reminiscent of the one seen from 2015 to 2017.
These signs are as follows:
Price tags: xbtusd, btcusd, btcusdt Charts from TradingView.com Photo by Afonso Coutinho on Unsplash Analyst Who Predicted 2018's Bottom Predicts Bitcoin Could Hit $13,000
Originally from Bitcoinist.com https://ift.tt/3hnfAlN
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