WHAT'S GOING ON IN BITCOIN (BTC)?
I WONDER WHAT THE SILENCE BEFORE THE STORM WILL BE?
The popular cryptocurrency analyst on Twitter, the Cryptomist, suggested that Bitcoin was preparing for a big break.
Bitcoin On Verge Of Breaking
In a series of tweets shared with his 43,000 followers, the analyst noted that Bitcoin is in a rising triangle formation and could soon have a blast:
A LIKELY RISING TRIANGLE WORTH PAYING ATTENTION TO, AS I SAID LAST WEEK. I'M ENDORSING LONG POSITIONS AT THE MOMENT (HOWEVER, THE BEARS ARE LIKELY TO MAKE ONE LAST MOVE DOWN THE LINE)…
The analyst also shared the Bitcoin price levels would be as follows if the boom he had expected happened:
$ 7,700
$ 8,450
$ 9,400
Bitcoin On Downward Trend
Another cryptocurrency analyst thinks differently for the price of Bitcoin. Although he agrees Bitcoin could jump higher in the short term, the biggest cryptocurrency could stumble across hurdles and go deeper, analysts at Magic say:
BTC AND OTHERS MAY JOIN AN UPWARD STUDY IN THE COMING DAYS. HOWEVER, IF BTC REMAINS AT A LOWER LEVEL, IT IS LIKELY TO FALL BELOW THE CONTROVERSIAL FINAL CRITICAL SUPPORT AT 7250. WE MAY SEE A SHORT-TERM UPTURN, BUT BTC IS ON A DOWNWARD TREND RELATIVE TO THE OVERALL OUTLOOK.
