Ready to start: Bitcoin will rise to $ 5,000 by may of this year
Source:
The longer it stays below $ 4,000, the higher the probability of a new major drain of the stock market. However, some analysts do not believe in long domination of the bears in their opinion, the main cryptocurrency will be able to reach $ 5,000 by the beginning of may.
This morning, a Bitcoin is trading at 3943 dollars. For the past day coin is almost not changed in value. This week she managed to grow by 2.8 per cent.
theBulls enter the game
Trader under the name FilbFilb for the umpteenth time publishes via Twitter the next bullish Outlook on the value of Bitcoin. Cryptocurrency is a long term uptrend and has already proved his theory on graphs.
BITCOIN — [IS A BULL] — chart
— fil₿fil₿ (@filbfilb)
The movement of the market over the past few months can be divided into several similar patterns. They all look like the figure «inverted head», which is Bitcoin formed during reduction to $ 3,200. Traditionally, this behavior of an asset can be considered a prerequisite for the transition from bearish trend to bullish.
Technical indicators also indicate a high probability of growth. The MACD line on the long term chart shows a positive trend, and Chaikin Money Flow (CMF) indicates the presence of a large number of buyers.
So, the theory Filb Filb has the right to life only if Bitcoin will stay above $ 3400 in next few weeks. According to the analyst, now the most serious obstacle to the growth of the asset can be considered a line of $ 5,000. Its breakout will be the final confirmation of the start of the new bullrun.
Source: Included
Other visitors TradingView there is a more pessimistic scenario. Trader Jeremyluce also expects growth of up to $ 5,000, after which is supposed to happen new dump up to $ 1,500. To make bets on one or the other in our forecast .
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