After the recent sharp Pampa Bitcoin players, like the stock market once again began to believe in endless growth. However, the price action didn’t end with the formation of a complete uptrend — Bitcoin is moving again in a horizontal channel with relatively low volatility.
CEO BitOoda Tim Kelly believes that to open long positions while early. On the contrary, the bears will still be some good opportunities to short the main cryptocurrency. According to him, Bitcoin could fall to $ 2,400 in the coming months.
The bottom has not broken
Now Bitcoin is relatively stable cryptocurrency trading above $ 3,600 and practically does not change its value during the last day. Soon the situation can cardinally change, as the final push of the bears will send the asset is below $ 3,000.
We expect the final wave of despair, which will drop Bitcoin like a thousand dollars down. Of course, our analysts could be wrong, price minimum of 2018 is still not broken. The probability that a “sale” is finished, also is the place to be.
The mass closing of short positions on Bitcoin will lead to a spike in the region of $ 4,000. In the most optimistic forecast of the cryptocurrency can even jump up to $ 6000.
As expected struggling with resistance.
I’ll be going hunting wick somewhere between the two dotted green lines.
Any moves into the green box would make recovery unlikely to me.
I don’t really expect that to happen though.
R: 3750 pic.twitter.com/EtxrkmDUo3
— DonAlt (@CryptoDonAlt) February 12, 2019
Other experts from cryptococci Twitter support word, Kelly. For example, a trader under the name DonAlt pointed out the challenges that Bitcoin has faced in testing the next resistance levels. In his opinion, such behavior of the asset signals his imminent discharge.
$BTC — I’m expecting a weak reaction off of the range low.
Maybe some chop around there before moving down to the 1D S & R.
A bounce where price currently is isn’t a deep enough retrace after that move up, in my opinion. #Bitcoin pic.twitter.com/4Bvd1WjKQq
— UB (@CryptoUB) February 12, 2019
The analyst under the name UB is not so rigid prediction — he expects local decline of Bitcoin to the level of 3520$. After a rebound from this support is already possible to speak about the future price movements of coins in the next couple of weeks.
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