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Bitcoin is currently flying high, after reaching a new high of $111 800 on May 22, 2018. Tony Severino, a crypto analyst, has now predicted that the current rally will likely last. BTC reaching $120,000 At some point, you will need to use your own.
Bitcoin Price to Reach $120,000 After This Range Breakout
Then, you can also find out more about the following: X postTony Severino forecast that Bitcoin’s price would reach $116,000 to $120,000 after the break out from $106,000. The prediction was made just moments before BTC soared beyond its previous high. previous ATH of $109,100 On May 21, Analysts believe that flagship cryptocurrency could see a “long, white candlestick” This range is the starting point for rallying to.
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He warned, too, that failing to breach the $106,000 level could result in a retracement when momentum on lower timeframes begins to fade. In an earlier post, Severino explained the significance of this breakout, noting how these breakouts are often followed by a retracement. the Bitcoin price The trend tends to be upward on a short-term basis. The RSI should also be above 70 in the 3-day period to support a range break.
Bitcoin is now a very bullish asset, as it has risen above the $110,000 level and reached an all-time high (ATH) of $111800. Commenting on this surge, Severino acknowledged that he’d been mistaken about his bear thesis. the macro fundamentals This rally was dominated by the technicals.
The analyst has confidence that Bitcoin can rise much higher. His latest analysis revealed that BTC’s quarter just triggered a perfected TD9 Buy Setup. He said that this only happened once before, in the Q4 of 2017, the strongest quarter ever in the history of cryptocurrency. Bitcoin rose over 350% from the opening candlestick.
Severino believes that if history repeats itself, the same move would occur. “fast, violent, and over” Sooner than you can imagine. He said that the Bitcoin price is likely to rise in the near future.
A Golden Cross Is Incoming For BTC
You can find the X-post in this post. crypto analyst Titan of Crypto A golden cross will be coming for Bitcoin’s price, according to a report. He said that BTC repeats the same pattern with the Death Cross occurring before the Golden Cross. Analyst added that when this pattern occurred last, it led to a significant rally.
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Titan of Crypto, in a previous post predicted that Bitcoin’s price would rise to $135,000. The target price is likely to be reached this year, he said. Meanwhile, veteran analyst Peter Brandt Bitcoin is expected to reach between $125,000 and $150,00 by August.
Bitcoin’s price at this moment is around $111300. It has risen over 3% during the last 24 hour, reports say. data CoinMarketCap.
Chart from Tradingview.com, image from Getty Images
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
“ItsDailyCrypto is not responsible for any activities you perform outside ItsDailyCrypto.”
Source: www.newsbtc.com
