Bitcoin will fall to $ 1,100 before the next leap. Forecast analyst

Date:

2019-06-03 20:30:09

Views:

1820

Rating:

1Like 0Dislike

Share:

Bitcoin will fall to $ 1,100 before the next leap. Forecast analyst

On 1 April of the current year the main cryptocurrency rose more than 100 percent. Altcoins are not far behind and rapidly growing capitalization of the stock market hints at another bullrun. In General, the cryptocurrency has gone far and at the moment are in terms of profitability. Despite the lightning-fast growth, many analysts are trying to remain impartial, and assure that further growth remains to be seen.

The Analyst with the strange alias Magic Poop Cannon, who accurately foresaw the fall in December last year, decided to share the reasons for the unwillingness of Bitcoin to another bullrun. In his opinion, from a technical point of view, the biggest cryptocurrency is on its way to «the top of the local chart». And there are at least some reasons to think so.

the

the money flow Index (Money Flow Index)

First, the money flow Index — MFI technical indicator used to determine overbought or oversold asset is now at 97 on a one week chart of Bitcoin. There are only three points before the peak.

When Bitcoin reached this level in the previous time, the subsequent correction by 85 percent.

And it's true: the last time a similar peak MFI was the Bitcoin price in the region of 20 thousand dollars. In addition, the relative strength Index on certain time frames is also at a relatively high level.

the

Indicator NVT

Second, the Indicator NVT — tool definition squirts on the cryptocurrency market is in full looms «red lantern». As in the case of MFI, whenever the ratio of this indicator has reached current levels, there was a significant correction.

Every time NVT went to red and the MFI pointed to a significant overbought asset, there is a correction in the amount of not less than 85 percent. In the current situation, such a correction will take us to the range of 1100-1200 dollars. Kinda scary.

the

Historical cyclicity

Finally, historical precedents say that BTC is still not ready to fulfill some requirements. The main cryptocurrency has not touched the lower line of a rising logarithmic arc mentioned Magic. Before each previous ballroom the asset touched the line. According to his calculations, BTC can touch the arc by October of this year at a price of $ 3,000. The analyst believes that the way Bitcoin allegedly fulfill the requirement, inherent in all previous cycles. In addition, it will confirm «the linear nature of Bitcoin». And although the analyst does not believe that BTC would fall to $ 1,000, it is still suggested correction up to 3000 before the next significant leap.

It is important to note how just a few months ago, Magic have expressed a bullish sentiment on the short-term prospects of Bitcoin. In response to this, the expert said.

In such a dynamic market it is important to be able to be as dynamic.

the

What will happen to Bitcoin next?

Many expect further bullrun Bitcoin, despite the correction, which is seen on the horizon. Claims analyst Filb Filb, in the year 2018 on Bitfinex was opened a short position at the level of 11.6 and 13.8 thousands of dollars on as many as 7300 bitcoins. If we assume that some of these positions still not closed, as they eliminate the price upward.

Source: 2Биткоина

In addition, it expects that the effect of FOMO and restoring the Fibonacci level of 0.618 will play as a magnet, spurring the price of Bitcoin up to 12 thousand dollars. Thus, Bitcoin has all the chances to break the resistance of 10 thousand dollars.

The Current rate of the coins can be viewed in the classroom . And there are still a lot of other useful and interesting predictions.

Recommended

Rally Bitcoin — deception. Well-known economist advises to invest in gold

Rally Bitcoin — deception. Well-known economist advises to invest in gold

Director of Euro Pacific Asset Peter Schiff does not see anything supernatural in growth . Recall that the main cryptocurrency has already risen by 179 percent since the beginning of 2019 and is now trading at the level of $ 8540. According to Schiff...

May 2Miners: run pools Aeternity, the debut 2CryptoCalc and software upgrades

May 2Miners: run pools Aeternity, the debut 2CryptoCalc and software upgrades

the Last month of spring proved to work. The team started working on launching (AE), the addition of which the majority voted representatives of the community. Calculator profitability of mining Alexei Rubin moved to the domain and now will develop e...

CRYPTOMACH / Maximum exchange rate of Bitcoin in the future, the output of the crypts on the map, Ycash and the Board of Finance

CRYPTOMACH / Maximum exchange rate of Bitcoin in the future, the output of the crypts on the map, Ycash and the Board of Finance

the long-awaited summer. Niche cryptocurrency supported the event and gave unusually hot week. During the last seven days, we learned about the new line of graphics cards from AMD, the mining in TON and hard forks . In addition dealt with the profita...

Comments (2)

2021-07-17 в 12:38:42

0 0

Wow, from 531 to 802 Credit Score, unbelievable, after several Months of not being able to gain access to loans due to my poor credit score of 531. CYBER CREDIT GURU made it possible, thank you guys, I really appreciate the job done. Please anyone in search of a Hacker, just send them an Email: CYBERCREDITGURU AT GMAIL Dot COM or give them a call: +1 (650) 239 7249. Thank me later.

Answer

2020-06-08 в 10:10:43

0 0

GET RICH WITH BLANK ATM CARD during this PANDEMIC Whatsapp: +1(845)381-3566 Hello everyone, I got my programmed and blanked ATM card to withdraw the maximum of €5,000 daily for a maximum of 90 days via ( BLANKATMCARDS.ONLINE@YAHOO.COM ).I am so happy about this because i got mine yesterday and I have used it to get 10,000 USD. CJ Hackers is giving out the card just to help the poor during this PANDEMIC and needy though it is illegal but it is something nice. Get yours from CJ Hackers today! Email: BLANKATMCARDS.ONLINE@YAHOO.COM Text & Whatsapp: +1(845)381-3566

Answer
Add comment

Related News

VEB and the Grozny mayor's office transferred the housing sector on the blockchain

VEB and the Grozny mayor's office transferred the housing sector on the blockchain

In February, the first Deputy Chairman of VTB Olga Dergunova positively the prospects of the blockchain. According to her, the technology will improve the speed of transactions and security standards. To move from words to action ...

Hacker 1337. How to hack Etherscan not to cause any harm

Hacker 1337. How to hack Etherscan not to cause any harm

Monday on the website Etherscan.io appeared a pop-up message with the numbers 1337. The visitors began to panic and spread rumors about hacking Explorer. really hacked, but the damage from a hacker attack was zero. About it writes...

The largest financial media grudgingly acknowledge the rise of Bitcoin. But are negative

The largest financial media grudgingly acknowledge the rise of Bitcoin. But are negative

During the boom times ICO main media does not have time to write about another million dollars, which has attracted a particular project. As soon as the stock market began to decline, the media undertook to demonize an entire indu...