Bitcoin Trader Puts At $12,000 USD By The End of July Based on Historical Pattern Trends
Bitcoin has finally breached the $9,000 mark after weeks of lingering around $8,000. Next, it is approaching a dense cluster of resistance lines around the $9,134 point.
This resistance-turned-support consists of the previous monthly high, the Pivot Point one-week Resistance 1, the previous 1h-high, the Bollinger Band one-day Upper, the BB 1h-Upper, the Simple Moving Average 5-15m, and the Pivot Point one-day Resistance 2.
The next noteworthy resistance is around $9,516. After that, the next upside target is also a lone level at $10,500. However, if this is breached at the end of the next month, we can expect it to hit as much as $12,000 by the end of July.
Popular crypto-analyst, flood tells on Twitter:
“No more rug pulls on bitcoin, only magic carpet rides… We are close to leaving the range (8450-6800). Anything above 8800 will signal a massive breakout and liquidation of anyone short over 20x leverage most likely causing a cascading wick..”
No more rug pulls on bitcoin, only magic carpet rides.$BTC
We are close to leaving the range (8450-6800). Anything above 8800 will signal a massive breakout and liquidation of anyone short over 20x leverage most likely causing a cascading wick. pic.twitter.com/BRLw5FOf1O
— Flood [BitMEX] (@ThinkingUSD) June 14, 2019
There are many in the crypto in the crypto industry who believe that $10,000 mark might be achieved as early as June 21st. Circle CEO Jeremy Allaire is one of them. He points to Facebook’s Libra launch as the catalyst for the bullish outlook.
Bitcoin bull and Wall Street veteran Max Keiser told his followers that “there is very little [BTC] supply between here and a new all-time high (ATH). $28,000 is still in play.” Keiser says:
“The pullback from $20,000 to $3,000 will hardly be visible on the charts in a few years. Basically, a non-event.”
Bitcoin’s price is $48,178.46 BTC/USD exchange rate today. The real-time BTC market cap of $901.47 Billion currently ranks #1 with a chart dominance at 62.37%, daily trading volume of $28 Billion and live coin value change of BTC -3.76 in the last 24 hours.