The price of bitcoin, which was discussed above $12,000 until a few days ago, suddenly turned upside down. Although the crypto, which dropped below $10,000 four times, managed to maintain this support at the end of the day, it is a wonder what the next move will be.
An investor with the pseudonym FeraSY1 to address this issue shared four signs for BTC that hinted that the next step would be positive.
4 reasons for bitcoin price to rise
- When it reached its long-term support, bitcoin formed a four-hour bullish divergence.
- There is an upward trend on a range of altcoins.
- A series of “golden pockets” have emerged, indicating that bitcoin and other cryptocurrencies have reached a healthy retracement point.
- BTC dominance has reached a key resistance level.
Even though no bounce has been seen yet, bitcoin’s macro outlook continues to be optimistic, according to the analyst.
Credible Crypto: “Bitcoin price will drop $9,600 soon.”
Well-known trader and analyst Credible Crypto shared his latest bitcoin prediction with his followers. Posting a tweet from his 65,000-follower Twitter account, the analyst said he thinks BTC will soon drop to $9,600 and fill the gap in the CME chart.
I wasn’t expecting this for BTC but the CME gap-filling prophecy seems to come true (under $10,000). ETH still hasn’t reached my minimum target ($360) and I don’t believe BTC will fall without falling. Regardless, we are in HTF support and I expect this to be valid.
Tyler Winklevoss: “$10,000 is the new base.”
Tyler Winklevoss said he came to the conclusion that $10,000 is the new base value and bottom point for BTC. Winklevoss also expressed optimism that bitcoin is currently consolidating before its next rise.
Remember when a #Bitcoin dip was well below 10k? Now bitcoin dips are comfortably above 10k. New baseline. Bitcoin is consolidating before its next breakout.
— Tyler Winklevoss (@tylerwinklevoss) September 5, 2020
So what do you think will be bitcoin’s next move? Share your comments with us below.
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