[ad_1]
Bitcoin (BTC) has managed to find stability in the region of $ 3,600, indicating that bulls are not ready to give up recent price increases in cryptocurrency.
Today, an badyst says that bitcoin could reach $ 5,000 in the coming weeks, as cryptocurrency begins to develop more optimistic technical training.
Analyst: Bitcoin could soon reach $ 5,000
At the time of writing this article, Bitcoin is currently trading at its current price of $ 3,650. On Friday, Bitcoin went from $ 3,400 to $ 3,700 before stabilizing slightly at current prices.
Recently, BTC experienced instability on the weekends, which generally set the tone for the current week. Despite this, this weekend was one of Bitcoin's least volatile weekends, which could indicate that BTC has regained stability at its current price levels.
Even though the markets were quiet at the time, Mitoshi Kaku, a popular cryptocurrency trader on Twitter, said he would not be surprised if Bitcoin reached $ 5,000 in the next ten days.
"I would not be surprised at all if the price went directly to $ 5,000 in the next 10 days. Conditions are present TA-wise. Obviously, this type of movement would require a powerful catalyst, but anything is possible with regard to price action, "he explained.
I would not be surprised if the price goes directly to $ 5,000 in the next 10 days. Conditions are present TA-wise. Obviously, this kind of approach would require a powerful catalyst, but anything is possible with regard to price action. $ BTC pic.twitter.com/Usdpub8LNj
– Mitoshi Kaku ??? (@CryptoSays) February 9, 2019
Despite this, UB, another popular cryptocurrency badyst on Twitter, said it was waiting for bitcoin to drop further before entering long positions, with a target purchase price set around the low end of the range. BTC in the region of $ 3,500.
"$ BTC – I've been flat since my short film was stopped the other day … I'm waiting to see the reaction around Range Low before deciding on my next move … Looking for & # 39; 39, a long position as long as the 1D S & R holds support (3440 – 3410), "he said.
$ BTC – I have been flat since my short film was stopped the other day.
I'm waiting to see the reaction around the low range before deciding on my next move.
Looking for long positions as long as 1D S & R stands as support (3440 – 3410).#Bitcoin pic.twitter.com/3V4lqWUm8R
– UB (@CryptoUB) February 10, 2019
Bitcoin Price Soaring Prices Can Be Fueled by a Bullish Weekly Candle
While BTC ends a relatively quiet weekend and forms a new weekly candle, an badyst believes that it could help fuel a rise in interest rates for the week ahead.
Nik Patel, a popular cryptocurrency operator on Twitter, pointed out that the creation of a bullish weekly candle by Bitcoin could lead to an increase of up to $ 6,000, consistent with Mitoshi Kaku's aforementioned price prediction.
"We have not seen a higher summit in the weekly for over a year. It would be charming, "said Patel.
We have not seen any higher summit in the weekly for more than a year. It would be charming …$ BTC pic.twitter.com/xKPj80Y5h5
– Nik Patel (@cointradernik) February 10, 2019
The way Bitcoin ends the day will probably set the tone for whether the coming week is positive for cryptocurrency.
Selected image of Shutterstock.
[ad_2]
Source link
