Willy Woo, Peter Brandt and other analysts on the upcoming Bitcoin move



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Bitcoin had some tumultuous days quickly reaching a resistance cap of about $ 5,800 before being instantly pushed back to $ 5,600 and then bouncing back to test resistance again. So what is the next step? Are we on the verge of breaking $ 6,000, is the bear market officially over? Or will we see another dive before take-off? Here's what Peter Brandt, Willy Woo and Twitter crypto analysts say …

Willy Woo, a prominent technical analyst in the cryptography industry, pointed to what he called a "punctuated signature," which describes the point where Bitcoin (BTC) pulls a bottom. The chart also highlights a similar fractal observed in the 2015 market – a market that would be highly correlated to the current market. Woo's graph, which illustrates investment behavior, suggests that a new momentum may well lead us to a bullish race, but not before a potential setback if we remember the story:

Peter Brandt, another notable analyst and author of the trading manual "Journal of a Professional Trader," said yesterday that BTC was forming the top of the resistance. announcing a correction before the CTB reaches $ 6,500, to which Brandt thinks a "more significant" correction could begin …

Another analyst agrees with Brandt's assumption, providing a figure for a possible correction of about $ 5,500, the BTC rate bouncing back to $ 12,000 …

Some other analysts also expect this possible correction:

It is interesting to note that the highly correlated 2015 market mentioned above was noted by another operator called "Posty", who made several bullish assumptions based on the historical course prices:

BTC / USD Chart provided by Tradingview

First, the analyst notes the time spent below key resistance levels from 2015, noting that BTC took 308 days to reach these levels and that it was reversing the support's resistance (reversal s / r ); this reversal finally took place after three resistance test failures that catalyzed the upward momentum. Subsequently, the halving in 2016 of bitcoin took place, ushering in a new bullish rally for BTC.

By 2019, the analyst says the recent test of $ 5,800 was our first attempt at flipping s / r, suggesting that we could potentially be in a period of accumulation until we reached the end of the year. in the second half of 2019, after which the halving of Bitcoin 2020 could provide the uprising of the last few halves.

What do you think? How long will we stay under 6k? Does history repeat itself or do we make our own way?

Let us know your thoughts in the comments!

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