CNBC Calls for Bitcoin Price Rocket as Crypto Community Inherently Expects the Opposite: Time to Go Down


Bitcoin is yet again above $4k mark. At the time of writing, the leading cryptocurrency has been trading at $4,074 with 24-hours gains of 0.63 percent while managing the daily trading volume of over $10 billion, as per the data provided by Coinmarketcap.

Source: TradingView

Though Bitcoin is in the green, experts are still looking for a drop. And looks like a drop is coming as CNBC is feeling bullish about BTC. CNBC Futures Now took to Twitter to share that Bitcoin is looking ready to skyrocket.

Given the fact that CNBC is the best bitcoin movement indicator if counter traded, it’s time to expect some red.

Previously, we also reported the NVT signal by Wolly Woo has also declared a shorting opportunity, now it needs to be seen just how much of a fall we would experience.

What Do The Technicals Say?

In the recent past, Bitcoin has rejected EMA100 as the main resistance several times, but what about this time. Crypto analyst Alan Master shares a few scenarios in his latest analysis, regarding EMA100 where he says this moving average can be conquered if Bitcoin close above with a good volume and strength. If Bitcoin moves up, the challenge is on next resistance at $4,300 and if BTC is able to broke this one, we would be going to $4,640 next.

In case EMA 100 can’t be broken, He says, Bitcoin will go back down to test the EMA10/50. However, he notes that RSI is “really bullish,” sitting at 60 and further going higher while MACD is neutral at best, in the bullish zone.

Meanwhile, Altcoins Bless With Massive Profits

Among the top cryptos, EOS is still up by over 4 percent while others have either turned red or in the green, both by a small margin.

Today’s top gainers are Decentraland and Ravencoin with 37 and 25 percent gains respectively. While Tezos is up by 9 percent, Waltonchain is also surging by 7 percent. Meanwhile, Basic Attention Tokens (BAT) is rising by close to 6.45 percent.

The total market cap is at $142 billion while the market dominance of Bitcoin as per Coinmarketcap is still just above 50 percent.

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