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After breaking from $8,000’s grip on Sunday, Bitcoin (BTC) skyrocketed to $8,750 in a jaw-dropping move. While the bullish momentum has slowed for the time being, with BTC beginning to consolidate in the short-term around $8,700, some are sure that the cryptocurrency market will continue to print higher as the week elapses.
Bitcoin Closes Above $8,400Earlier today, BTC suddenly broke over, shooting past $8,200, $8,400, and $8,600 in rapid succession. Initially, though, some were wary that this was a fakeout, designed to trap bulls into thinking there was going to be a strong weekly close above $8,400. $8,400 is, of course, where this market topped in a bear market rally in mid-2018, and where BTC double topped in early-May.
The thing is, there was a chance that Bitcoin was going to rapidly scale back just as fast as it jumped up.
But, just minutes ago, Bitcoin’s weekly candle closed at midnight (UTC time zone), marking a strong performance over the past week. As analyst Nick Cote quipped on Twitter in response to this close, “that weekly print.” According to LiveCoinWatch, Bitcoin is up 6.75% on the week.
So what’s next? Well, now that the weekly candle has closed decidedly bullish, some are adamant that anywhere to $9,600 to $10,000 for BTC is in the cards. Josh Rager, a team member at Level and a popular analyst, recently noted that now that the close was strong, he fully expects for a move to $9,600 to come to fruition. As he wrote in a recent tweet: “Goodbye meme triangle, hello $9k+ targets. Bitcoin could cool off, run sideways but IMO will continue to move up over $9k.”
Some have been a tad more optimistic. Adamant Capital’s Tuur Demeester exclaimed last week that Bitcoin continues to hold in a bullish parabola, which has acted as support for BTC since December 13th’s jaw-dropping bottom.
In fact, the asset touched the parabola in February, late-March, early-April (to kick off the current rally), throughout early-May, and just last week. If this trend continues, the Adamant representative suggests that Bitcoin could rally by 40% — around $3,000 — from current levels to hit $11,000 by early-June. This begs the question — is crypto winter finally over?
According to Fundstrat Global Advisors’ Tom Lee, this might just be the case. In a recent Twitter post, the Fundstrat head of research gave 13 reasons why the bear market is over.
Some of these important reasons include the fact that Bitcoin quickly returned to $8,000 after the $1,700 dump on Bitstamp; the Bitcoin Misery Index passing above 89, a sign only seen in bull markets; a grow in on-chain activity and volumes, which historically have preceded rallies; and the fact that Bitcoin’s chart recently saw a bullish “golden cross” pattern” while BTC moved above its 200-day moving average in spectacular fashion.
|Rate (per day)||33.49||2014.59|
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BTC USD (Bitcoin / US Dollar) This is the most popular Bitcoin pair in the world. Bitcoin uses peer-to-peer technology to operate with no central authority or banks; managing transactions and the issuing of Bitcoins is carried out collectively by the network. Bitcoin is open-source; its design is public, nobody owns or controls this cryptocurrency and everyone can take part. Bitcoin price grew ... The chart also indicates that after consolidating between $10,000 for $12,000 for the coming months, Bitcoin will begin a rally towards $20,000 by the end of the year or start of 2021. This is in line with what happened at the start of the previous macro bull market in 2015-2016. Live-Kurs-Chart für XRP/BTC Binance. Preisstatistiken für verschiedene Zeiträume, Orderbuch, Neuigkeiten und Trollbox. Der Bitcoin - Euro Chart zeigt die Entwicklung des Bitcoin - Euro in grafischer Form und erlaubt somit einen schnellen Überblick über Kursverlauf, Höchst- und Tiefststände. Binance cryptocurrency exchange - We operate the worlds biggest bitcoin exchange and altcoin crypto exchange in the world by volume Bitcoin (BTC) at $10,000 Coming Into View, Binance (BNB) Recovering, Ripple XRP First Facebook Libra Victim . Share Tweet. Gary McFarlane · Bitcoin News · June 15, 2019 · 5 min read. Bitcoin (BTC) at $10,000 Coming Into View, Binance (BNB) Recovering, Ripple XRP First Facebook Libra Victim. updated 18 June 08:52 GMT. Bitcoin (BTC) had a burst energy – jumping $200 yesterday – with ... Bitcoin Price (BTC). Price chart, trade volume, market cap, and more. Discover new cryptocurrencies to add to your portfolio. Skip to content. Prices. Products. Company. Earn crypto. Get $171+ Sign in. Get started. Price charts Bitcoin price. Bitcoin price (BTC) Add to Watchlist $ 15,710.83-1.23%. 1h. 24h. 1w. 1m. 1y. all. $0.0000 January 1 12:00 AM. 3:01 AM 7:11 AM 11:22 AM 3:32 PM 7:43 PM 11 ... The analyst who shared this chart is one that has been extremely accurate in the past. In March, he predicted that Bitcoin would undergo a V-shaped reversal to $10,000 by May or June. And just recently, prior to the latest leg higher, he shared charts indicating that BTC could move to $14,000 in October or November. We are doing so now. BTC/USD Perpetual Binance price chart in real-time. Stats on multiple timeframes, order book, news and trollbox. Coinalyze. Futures Data. Individual Charts; Global Charts; Technical Analysis. Bitcoin Ethereum Ripple Chainlink Bitcoin Cash Binance Coin Litecoin Cardano Bitcoin SV EOS Monero Tron Stellar Lumens Crypto.com Coin Tezos UNUS SED LEO NEM NEO Cosmos Iota VeChain THETA Dash ZCash ... The chart indicates that BTC’s bearish retracement has already bottomed as the coin holds a pivotal uptrend that originated in April/May. The chart also indicates that after consolidating between $10,000 for $12,000 for the coming months, Bitcoin will begin a rally towards $20,000 by the end of the year or start of 2021.
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