Short Short-term Bitcoin analysis from TradingView experts: when will we see a rise in BTC?
Now that the market seems to be recovering from a long cryptocurrency, investors keep an eye on the price of Bitcoin. This is the main crypto, which partially determines the price of all other altcoins, so it is important to have an idea about its future development. The asset has already touched a support line of $ 4,000 and is still holding on to this edge. Will he have enough energy to reach $ 5,000 and above? Tradingview users share their analyzes and theories.
“It's time to get ready for a big rally (55-80%)”
Recently, the crypto community witnessed a 20 percent increase in BTC, which ended in a serious fall, which most traders regarded as the end of their rally. However, a user named Weslad assures the following: “The rally is just beginning, because the movement represents a wave of 1 out of 5 big moves on a large drop Y correction wave from $ 10,000. We should expect another form of a big rally after the price breaks out of the rising triangle. ”
BTC has already broken the bull flag, and now its price is gradually moving towards an uptrend. Look at the table provided by Weslad. For successful trading, you need to look for the following marks in the accumulation zone:
- Possible entry area
- Possible level of support
- Sell targets
“BTC will make a decision at the end of March”
The user nicknamed filbfilb claims that, most likely, we are going through a correction stage - this has already happened to Bitcoin many times. He expects Bitcoin to reach new heights again before re-testing the reload zone, like last time. This may cause even greater disappointment in the market.
Filbfilb does not comment on how exactly this will be resolved, but he is confident that BTC will not fall to $ 1,000. Rather, it will be bullish than remain bearish around $ 3,000.
When Bitcoin manages to reach a higher maximum during his daily work, he will have more opportunities to re-dial 4000 dollars and move on. The user expects BTC to make a decision by the end of March.
"Bitcoin STILL follows the Bottoming fractal 2015"
MagicPoopCannon, the top-rated TradingView expert, put forward an interesting idea: Bitcoin follows the 2015 fractal bottom pattern. Recently, the price of BTC fell to 50 EMA, which resembles a situation that occurred four years ago.
What does the template look like? This is an inverted "head and shoulders" pattern.
“As you can see, on the 2015 chart (below) towards the end of the triangle (in black) and after the descending head-shoulders pattern (red), the price went up with two pumps, it reached the top of the downtrend channel, and then plummeted to 50 EMA, just like it was just yesterday. Now that I have noticed, we may not see the rally to the top of the channel (in blue), which I expected. ”
It turns out that even if the price of BTC drops below 50 EMA, it will still remind traders of the 2015 bottom fractal, which means bullish movement. Perhaps we will see two pumps, and the price will continue to fall below 50 EMA. In any case, MagicPoopCannon expects bullish results.
Disclaimer: The opinion expressed here is not an investment advice - it is provided for informational purposes only. This does not necessarily reflect the opinion of U.Today. Every investment and all trading is risky, so you should always do your own research before making decisions. We do not recommend investing money that you cannot afford to lose.
