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- 22% increase in bitcoin prices
- Fundamentals and analyst signal buying
Mark Dow states that Bitcoin (BTC) is purchasable and conforms to his word he is. The coin is up 22% last week, thanks to the current rise in assets above $ 4,500. With favorable candlestick arrangements, Bitcoin (BTC) will probably test $ 6,000 in the short and medium term.
Bitcoin price analysis
fundamentals
There is a transition and the bulls are back. In 30 minutes, bitcoin (BTC) prices exceeded $ 5,000 and resulted in $ 4,500, a significant level of resistance. In the current state of affairs, we expect this trend to continue, and there are complementary indicators. Candlesticks are not only huge in today's chart, but major events indicate bullish sentiment. More and more analysts are joining the crypto buy train.
Mark Dow, the former IMF economist, earned money through the last Bitcoin rally in the fourth quarter of 2017 and traded the most valuable coin of last year for an amount greater than $ 20 million. In his analysis, the economist recommends long, saying that Bitcoin is "buyable" at the current valuation.
Coming out of his shorts, he said that he was "do and do not try to ride this (slide) to zero" and that "he does not want to try to draw more lemon. "At the moment, we can not identify the exact cause of this recovery, but we know that volumes are sufficient to sustain gains in the short and medium term.
Chandelier arrangement
In the chart, the world's most valuable coin returns to green. Under the impetus of participation and even FOMO, BTC increased by 15% on the last day and by 22% the previous week, with prices tending to exceed US $ 4,500 or Fibonacci retracement level. 38.2% of Q4 2018.
Our BTC / USD business plan is in effect after today's close above the first quarter of 2019, which represents an accumulation of $ 1,300. As a result, due to the current trading range, we expect a short setback that traders should capitalize on, with targets set between $ 5,800 and $ 6,000.
Once the market is informed, it is likely that volumes will continue to increase and demand will increase, as well as BTC prices, and the first reasonable target for bulls will be the level of market failure at $ 5,800, which is a previous support, a resistance.
Technical indicator
As before, our anchor bar is February 24, a bear bar with high volumes – 36k. Since prices are up over $ 4,500 and transaction volumes are over $ 40,000, our terms and conditions are at the present time, and both types of operators can start to increase as indicated above.
Chart courtesy of Trading View
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