Analysts and their charts are a match made in heaven. Bitcoin’s price push over $12,000 has put the coin on the verge of a $13,000 price breakout or fakeout, resulting in several cryptocurrency analysts going bonkers with their price predictions, resistance and support level placing and charting.
In the middle of this price fever, Bitcoin briefly touched the $13,000 mark on Binance, trading against the stablecoin Tether [USDT]. However, this breakout was short-lived as the price soon dipped down. The king coin, at press time, was trading at $12,700.
Hours ago, as Bitcoin was still teasing the market hovering below the $12,000 mark, the unfortunately named MagicPoopCannon placed a trendline that topped out at just over $12,000. The analyst stated that if this line is breached, a “massive surge” will follow, pushing the price higher.
Needless to say, $12,000 was breached earlier today and indeed, $13,000 is looking primed for a BTC pounce.
Josh Rager, the cryptocurrency analyst and an advisor at Token Bacon and Level Invest, was in full-flow as well. When the price was below $12,000, he stated that a “Quick drop” might persist. However, it would result in a “bullish buy-up,” he said.
A close above $11,469 would be “bullish” for the market, with altcoins playing the waiting game as the market dominance was “moving sideways,” he had said.
Rager added that the price need to break “at least $13k” before a pullback, which in his opinion, would be in excess of 30 percent. He tweeted,
” $BTC looking bullish
Mobile view but expect a continued move higher before a possible pullback
Needs to hit at least $13k before a strong pullback of 30+% imo
Resistance above but will make for a strong daily candle pic.twitter.com/VwU7fwPpm3
— Josh Rager 📈 (@Josh_Rager) June 25, 2019
With the price moving as rapidly as it is, there looks to be no stopping the king coin, with the market clearly mulling the possibility of a new all-time-high, breaking December 2017’s $19,500. Rager added to the ATH fever, stating that the only key resistance level is at $14,200. If that is breached, “there isn’t a lot standing in the way to new all-time highs,” he added.
Alistair Milne, CIO at Atlanta Digital Currency Fund, stated that given that Bitcoin’s price is well over the trendline he ‘doodled’ out, there seems to be no possible “resistance,” before the monumental $20,000 mark. His tweet read,
— Alistair Milne (@alistairmilne) June 26, 2019
Presently, all roads now firmly point to a new all-time high. With Bitcoin dominance currently at 63 percent, topping at a near two-year high, the bull run is about to break expectations.
Ladies and gentlemen, pack your bags. Bitcoin is heading straight for the moon.
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