Analyst under the name CryptoBirb said that the next few days will be the most important in the fate of Bitcoin. According to him, the closing of the current candle on the 1 week chart is the main subject of discussion among traders. This Sunday it coincides with the closure of the daily, monthly and quarterly candles.
However, the cryptocurrency is already very close to the global resistance line, which in the past has caused several drains strong asset. CryptoBirb also noticed increased activity in manule Bitcoin and increase trade volumes.
Rise, fall or flat
Based on the current situation, the analyst predicts three possible versions of events. The first bullish break above 4400 dollars, which will mark the beginning of the wave of growth up to $ 5,200. However, this is not the final signal the start of the global bullrun. In later Bitcoins will need to test the level of 5800 dollars, which CryptoBirb believes the main obstacle.
The neutral scenario also involves a break above 4400 dollars, but in this case the rising movement will be stopped and Bitcoin again in a few months will fall into “hibernation”.
Finally, the failed test line 4200 dollars will lead to depression among the majority of players in the market, and it has to be a reason for a new drain BTC. In this case, CryptoBirb recommends that you open a short position on BTC/USD with a profit below the level of $ 2000.
probably most important weekly close so far for $btc ever
1D,1W,1M,Q1 close in one
historical bessa trendline test
massive moves on the blockchain recent weeks-market getting ready
See my pinned tweet to know
Pass on to your ma, pa and dog#bitcoin loves fakeouts in bear market btw pic.twitter.com/5J4qLzkL1l
— Crypto₿irb (@crypto_birb) March 28, 2019
Note that most other experts are more inclined to the bullish scenario. For example, CryptoHamster pointed out an interesting trend that emerged on the chart of the total market capitalization for the first few months.
Heikin-Ashi, total capitalization of crypto, 1M:
I wish to trust that doji… with that volume…#bitcoin $BTC $BTCUSD pic.twitter.com/Jew1Sv82MC
— CryptoHamster (@CryptoHamsterIO) March 28, 2019
Trader under the name Filb Filb compared the behavior of the market with the previous bearish trend. If history really repeats itself, soon we can expect a jump up to 6000 USD per 1 BTC, which will lead to the mass elimination of a huge number of short positions.
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