The future of Bitcoin is a huge scope for the imagination of analysts of all stripes. In the background is almost flat the longest in the history of cryptocurrency, many experts talk about the imminent transition from bearish trend to bullish. According to Magic Poop Cannon, it will not happen in one point, and will consist of several continuous phases.
According to the opinion of representatives research Department Weiss Ratings, Bitcoin is still considered the most profitable and safest long-term investment in scale of the stock market. We will remind, change of a global trend in trading BTC can also specify a growing Hasrat cryptocurrency.
It’s time to turn
Detailed chart analysis of Bitcoin Magic Poop Cannon published in his page on Twitter. So, the main point of reference for all players of the market should be moving average SMA line 150 scale 1-day chart. According to the trader, she played a major role in the auction the last two years.
150 SMA has become a “launching pad” for bullrun 2017. Now the line has changed its role in the resistance that Bitcoin tried to break several times during the bearish trend. In recent days, the price of cryptocurrency on the chart came very close to the new line test.
However, to rejoice too early. Trader under the name Magic Poop Canon does not exclude that major leap up in 2019 may not be. Bitcoin will continue to be traded between lines 3200 and $ 4000 a few months in a row.
Bitcoin is Entering A Long Bear to Bull Transition Phase (BTC) — #BTCUSD chart https://t.co/acpiptQDeA
— MAGIC (@MagicPoopCannon) March 26, 2019
On the basis of their calculations, I can say that Bitcoin needs to test the level of $ 6,000 towards the end of this year. I still believe that the market has found its bottom, but cryptocurrency can go to the support line in the area of 3150 dollars around October — just before the beginning of the new bullrun.
Not to miss the opportunity to start a profitable long subscribe to our cryptcat!
SUBSCRIBE TO OUR CHANNEL IN THE TELEGRAM. THERE’S MORE INTERESTING NEWS.