Analyst’s Forecast: Bitcoin (BTC) Could Rally To $5,800, Then Collapse By $1,000april 20, 2019Ethereum WorldnewsBitcoin May Break Past $5,350 In The Coming Week, Rally Further Over the past seven days, Bitcoin (BTC) has expressed an uncharacteristic lack of price action. In fact, since April 16th, BTC has ranged between $5,170 and $5,325, as buying and selling orders have dwindled to month-to-date lows. However, one analyst, Murad Mahmudov of Adaptive Capital, is predicting that over the coming week or two, the cryptocurrency markets will finally begin to show signs of action after some further stagnation. In a recent Trading View post, the prominent analyst, who skyrocketed to fame partially as a result of his appearance on Anthony Pompliano’s “Off The Chain” podcast, explained a potential scenario he sees for BTC. Mahmudov depicted the fact that over the past three weeks, Bitcoin has tested $5,350 and failed seven times. He adds that with one or two more tests of that local resistance level, which will come over the next two weeks, the asset is likely to break out. And once $5,350 is convincingly broken, Mahmudov explained that BTC could easily rally to $5,750, as there is a clear lack of liquidity in between $5,400 and $5,700. $5,750 is important, in that this is where Bitcoin traded at for months on end in the middle of 2018. While some are convinced that BTC will break through the long-standing level of importance, Mahmudov expressed that he expects for the crypto asset to fail to surmount that level, falling instead of breaking through. He depicted that if BTC fails to break $5,750, it could easily collapse through $5,000 to $4,800, and set this market under an array of key short-term support levels. This lines up with his previous theories that cryptocurrencies aren’t out of a bear market just yet. As reported by Ethereum World News previously, he has drawn attention to the $1,700 region as the potential point at where Bitcoin will finally bottom. In one comment, he wrote that for BTC to fulfill a repeat of 2014-2015’s cycle, a period of “Final Capitulation” will need to occur, whereas prices could fall 50% from the seeming lows ($3,200 region). Another time, he remarked that if cycles prolong each and every time, BTC could likely have a few months more of pain before an eventual recovery. Again, he looked to the high $1,000s. Can BTC Break Past $5,800? Sure, there’s a high likelihood that BTC won’t pass $5,800, specifically due to the historical importance of that level in 2018’s downturn. But, some are convinced that the cryptocurrency market will manage to overcome that barrier, as fundamentals and technicals seem to be signaling that a strong move upside, much like the one seen earlier this month, will come to fruition shortly. As trader B.Biddles remarked, Bitcoin’s one-week chart from August to now impeccably resembles a “bump-and-run reversal bottom” (BARR Bottom) shown in a notable technical analysis book. If the BARR Bottom trend plays out as the textbook’s author, Thomas Bulkowski, explains, BTC will soon see an “uphill run” that will catapult cryptocurrencies into their next bull run. Title Image Courtesy of Marco Verch Via Flickr The post Analyst’s Forecast: Bitcoin (BTC) Could Rally To $5,800, Then Collapse By $1,000 appeared first on Ethereum World News. Source: Ethereum Worldnews Original Post: Analyst’s Forecast: Bitcoin (BTC) Could Rally To ,800, Then Collapse By ,000... Analyst: Bitcoin (BTC) Likely to Soon See Massive Volatility as Golden Cross Pattern Formsapril 20, 2019News BTCAfter losing its major upwards momentum roughly ten days ago when Bitcoin failed to break above $5,400, BTC has been able to hold steady above $5,000 and has tepidly clawed its way upwards towards $5,300. Now, one analyst believes that Bitcoin will incur just enough buying pressure to propel its price up towards $5,800, at which point it will face significant selling pressure that may lead to a large drop. Bitcoin (BTC) Slowly Climbs Towards $5,400 At the time of writing Bitcoin is trading up marginally at its current price of $5,300, up slightly from its daily lows of $5,230. Although Bitcoin has been able to post minor gains over the past several days, it is important to note that is strongest confirmed level of resistance currently exists at $5,400, as BTC has failed to make any decisive advances past this level without being swiftly pushed lower. Despite this, Bitcoin may be currently incurring strength that will allow it to surge up towards $5,800 – at which point it will likely find greater levels of selling pressure. XC, a popular cryptocurrency trader on Twitter, shared his thoughts on Bitcoin in a recent tweet, explaining that he expects BTC to see another “scam move” up to the upper-$5,700 region, at which point it will be pushed back down. “Seeing weak bearish moves all across the board here, think we get one more scam move up with a harsh peak around 5777,” he explained. Seeing weak bearish moves all across the board here, think we get one more scam move up with a harsh peak around 5777. $BTC pic.twitter.com/s1Ezm55mYK — XC (@runtheirstops) April 19, 2019 Bitcoin May Be on The Verge of Incurring Massive Volatility One pattern that traders and analysts alike have been closely watching is the “golden cross” that Bitcoin is currently en route to forming. Previously, this pattern was only hypothetical, but it now appears that BTC will in fact make this formation, which would be highly bullish for the cryptocurrency. One analyst believes that the formation of this pattern will lead to massive volatility that could either send Bitcoin’s price surging upwards or reeling downwards – depending on whether bulls or bears take this opportunity to strike. “$BTC. Golden cross trajectory now April 24. (Was previously April 25). Should be interesting. Lot of hype that this is the “bull run” signal. If I were a bear or bull whale, that’s when I’d strike. Bull whale rides momentum of GC traders. Bear whale destroys their morale,” B.Biddies, another popular crypto analyst, explained in a recent tweet. $BTC. Golden cross trajectory now April 24. (Was previously April 25). Should be interesting. Lot of hype that this is the “bull run” signal. If I were a bear or bull whale, that’s when I’d strike. Bull whale rides momentum of GC traders. Bear whale destroys their morale. pic.twitter.com/wwDWxJ5dJh — B.Biddles (@thalamu_) April 19, 2019 Assuming that there are not any massive price movements over the next several days that change the timing of the golden cross formation, investors and traders alike should not take the current stability in the crypto markets for granted, as it may not last for very long. Featured image from Shutterstock. The post Analyst: Bitcoin (BTC) Likely to Soon See Massive Volatility as Golden Cross Pattern Forms appeared first on NewsBTC. Source: News BTC Original Post: Analyst: Bitcoin (BTC) Likely to Soon See Massive Volatility as Golden Cross Pattern Forms... Bitcoin’s Path to Retake $20,000 Could Be Slow and Painful: Analystapril 19, 2019CCNBy CCN: John McAfee continues to trumpet a bitcoin price that will hit $1 million by the end of the decade. He isn’t even afraid of betting his manhood on the same. Nonetheless, crypto bears keep coming back to spoil the party. 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