Over the last few days the Bitcoin price managed to scare many of its volatility. Sharp changes in the value of the main digital asset has even led some traders bearish. However, now BTC is starting to recover from the recent pullback. Cryptanalysts warn that the coin is still in an uptrend, so to worry about her falling is not worth it.
At the moment Bitcoin is trading at 11,765 USD. For the past day the asset falls 1 percent. We will remind, recently the trading volume of Bitcoin reached a new historic high — is now on the market, there are almost twice more transactions than during the previous bullrun.
Just ahead of here
Judging by recent price movements of the cryptocurrency, it has formed a good support level in the area of 10 thousand dollars. Traders are set up to purchase Bitcoin, so any reduction to this level will be used to open long positions.
Moreover, the global scale shows that the recent pullback has not had a very large impact on the market. The price of Bitcoin has not dropped below the local uptrend, so traders are still worth playing for a raise. Earlier, the billionaire co-founder of Gemini Tyler Winklevoss said that Bitcoin could rise up to 15 thousand dollars without any significant difficulty.
The trader under the name Mayne even more optimistic.
Held a dump of Bitcoin in the nearest area of support, however, the price of cryptocurrency has recovered well. If you panicked and sold it about 10 thousand dollars, today you will be not by yourself. Patience is the key to everything, use graphs with a larger scale. If we fall below the gray area, it will fall to $ 9,500. In any case, Bitcoin will quickly jump to 16 thousand dollars.
Dumped into a HTF block and have recovered nicely. If you panic sold at $10k yesterday, you are waking up salty. Patience is key if you are freaking out zoom out!
We lose the grey we test $9.5 k, I’m a buyer there. Otherwise once the ifregain 2018 y/o I expect $16k quickly. pic.twitter.com/TUdBbZSjZJ
— Mayne (@Tradermayne) June 28, 2019
Another view from the popular cryptanalyst Josh Rager.
Bitcoin is in uptrend. Don’t believe me? I’ve highlighted on the chart last bullish trend and the recent growth of the cryptocurrency. I think we’re only 1/6 of the way to a new historical maximum. All will be well.
After a few DMs from people selling out of fear yesterday, I just want to remind you of something
Bitcoin is in an uptrend
Don’t believe me?
I circled the last uptrend for you as well as the current uptrend
Probably 1/6 of the way to the top right now, IMO
It’s going to be okay pic.twitter.com/vqegY9goVS
— Josh Rager ? (@Josh_Rager) June 28, 2019
Traders have really high expectations for the future of Bitcoin. However, earlier economist Alex Krueger warned the community about the high probability of a correction of the main digital asset. Not to miss the opportunity to open a profitable trading position, subscribe to our cryptcat of hontarov!
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