Bitcoin Prices Decline, Is Bullrun Bitcoin Ends?

Bitcoin Prices Decline, Is Bullrun Bitcoin Ends? – Bitcoin (BTC) has experienced some very positive price action over the past few months, but what starts consistently, a steady rise quickly turns into massive volatility after BTC starts moving parabolically, which eventually results in BTC losing momentum and falling from the highest level recently.

Now, it appears that Bitcoin has entered a period of consolidation, bouncing between the $ 10,000 price region and the $ 12,000 region. Noteworthy, one analyst believes that the current BTC consolidation trend can cause it to fall to the level of $ 8,200.

At the time of the press, the price of Bitcoin was at $ 12,114 or IDR 170 million, a 4.7 percent increase in 24 hours according to CoinGecko .

Bitcoin volatility first began earlier this week when the momentum of the BTC increase turned into a satellite dish, leading it from a weekly low of $ 10,500 to a high of $ 13,800.

Nonetheless, the upward momentum did not last long because BTC quickly fell after reaching the highest level, erasing most of the parabolic gains when it then dropped to the lowest level around $ 10,600.

At the time since this price movement took place, Bitcoin has found some stability between the level of $ 11,500 and $ 12,500, which seems to be a new trading range that might last for the foreseeable future.

In the short term, it is important that BTC closes above the level of $ 11,500 (lower level of stability above). If not, maybe a decline to the $ 9,000 area will occur soon.

Josh Rager, a popular crypto analyst on Twitter, talked about this in a tweet explaining that a close above that level could bring BTC back to the $ 13,000 level.

“$ BTC – see for a weekly closing above $ 11,510. The meeting is at that level, if it closes below then the real opportunity for the price to retest is the level of $ 9,532 (0.382 fib). The close above can lead to a higher probability of retesting weekly highs at $ 13,800. ”

Even though the daily closing will likely determine the direction in which Bitcoin will go next, the newly formed technical formation will probably indicate the possibility that the next price will target the level of $ 8,200.

Mitoshi Kaku, another popular crypto analyst on Twitter, talked about this possibility in his notes, noting that a break above $ 13,200 would break this theory.

“I want to wait a little more to share this, because I’m testing new and more complex formulas now and I need more confirmation / data. But, this is the scenario that I have for the next step, as long as we don’t break AND close above 13.2K (Validation). ”

After a very volatile week, it is not clear whether this volatility will be carried over to the weekend, or whether BTC will begin to consolidate and face sideways trade battles over the next few days. Let’s wait and see.

Bitcoin Prices Decline, Is Bullrun Bitcoin Ends?

Bitcoin (BTC) has experienced some very positive price action over the past few months, but what starts consistently, a steady rise quickly turns into massive volatility after BTC starts moving parabolically, which eventually results in BTC losing momentum and falling from the highest level recently.

Now, it appears that Bitcoin has entered a period of consolidation, bouncing between the $ 10,000 price region and the $ 12,000 region. Noteworthy, one analyst believes that the current BTC consolidation trend can cause it to fall to the level of $ 8,200.

At the time of the press, the price of Bitcoin was at $ 12,114 or IDR 170 million, a 4.7 percent increase in 24 hours according to CoinGecko .

Bitcoin volatility first began earlier this week when the momentum of the BTC increase turned into a satellite dish, leading it from a weekly low of $ 10,500 to a high of $ 13,800.

Nonetheless, the upward momentum did not last long because BTC quickly fell after reaching the highest level, erasing most of the parabolic gains when it then dropped to the lowest level around $ 10,600.

At the time since this price movement took place, Bitcoin has found some stability between the level of $ 11,500 and $ 12,500, which seems to be a new trading range that might last for the foreseeable future.

In the short term, it is important that BTC closes above the level of $ 11,500 (lower level of stability above). If not, maybe a decline to the $ 9,000 area will occur soon.

Josh Rager, a popular crypto analyst on Twitter, talked about this in a tweet explaining that a close above that level could bring BTC back to the $ 13,000 level.

“$ BTC – see for a weekly closing above $ 11,510. The meeting is at that level, if it closes below then the real opportunity for the price to retest is the level of $ 9,532 (0.382 fib). The close above can lead to a higher probability of retesting weekly highs at $ 13,800. ”

Even though the daily closing will likely determine the direction in which Bitcoin will go next, the newly formed technical formation will probably indicate the possibility that the next price will target the level of $ 8,200.

Mitoshi Kaku, another popular crypto analyst on Twitter, talked about this possibility in his notes, noting that a break above $ 13,200 would break this theory.

“I want to wait a little more to share this, because I’m testing new and more complex formulas now and I need more confirmation / data. But, this is the scenario that I have for the next step, as long as we don’t break AND close above 13.2K (Validation). ”

After a very volatile week, it is not clear whether this volatility will be carried over to the weekend, or whether BTC will begin to consolidate and face sideways trade battles over the next few days. Let’s wait and see.

Bitcoin (BTC) has experienced some very positive price action over the past few months, but what starts consistently, a steady rise quickly turns into massive volatility after BTC starts moving parabolically, which eventually results in BTC losing momentum and falling from the highest level recently.

Now, it appears that Bitcoin has entered a period of consolidation, bouncing between the $ 10,000 price region and the $ 12,000 region. Noteworthy, one analyst believes that the current BTC consolidation trend can cause it to fall to the level of $ 8,200.

At the time of the press, the price of Bitcoin was at $ 12,114 or IDR 170 million, a 4.7 percent increase in 24 hours according to CoinGecko .

Bitcoin volatility first began earlier this week when the momentum of the BTC increase turned into a satellite dish, leading it from a weekly low of $ 10,500 to a high of $ 13,800.

Nonetheless, the upward momentum did not last long because BTC quickly fell after reaching the highest level, erasing most of the parabolic gains when it then dropped to the lowest level around $ 10,600.

At the time since this price movement took place, Bitcoin has found some stability between the level of $ 11,500 and $ 12,500, which seems to be a new trading range that might last for the foreseeable future.

In the short term, it is important that BTC closes above the level of $ 11,500 (lower level of stability above). If not, maybe a decline to the $ 9,000 area will occur soon.

Josh Rager, a popular crypto analyst on Twitter, talked about this in a tweet explaining that a close above that level could bring BTC back to the $ 13,000 level.

“$ BTC – see for a weekly closing above $ 11,510. The meeting is at that level, if it closes below then the real opportunity for the price to retest is the level of $ 9,532 (0.382 fib). The close above can lead to a higher probability of retesting weekly highs at $ 13,800. ”

Even though the daily closing will likely determine the direction in which Bitcoin will go next, the newly formed technical formation will probably indicate the possibility that the next price will target the level of $ 8,200.

Mitoshi Kaku, another popular crypto analyst on Twitter, talked about this possibility in his notes, noting that a break above $ 13,200 would break this theory.

“I want to wait a little more to share this, because I’m testing new and more complex formulas now and I need more confirmation / data. But, this is the scenario that I have for the next step, as long as we don’t break AND close above 13.2K (Validation). ”

After a very volatile week, it is not clear whether this volatility will be carried over to the weekend, or whether BTC will begin to consolidate and face sideways trade battles over the next few days. Let’s wait and see.

Leave a Reply

Your email address will not be published. Required fields are marked *