After holding above $16,000 and pushing above $16,400, Bitcoin has faced a drop. The : Here’s Why Ethereum’s DeFi Market May Be Near A Bottom
Bitcoin to Soon Move Even Higher
A historically accurate crypto analyst is signaling that one thrust higher is likely from here, then a consolidation.
The same trader that predicted Bitcoin would see a V-shaped reversal in March shared this chart below just recently. It indicates that Bitcoin is currently trading in a V-shaped reversal pattern that should result in BTC peaking at $18,200 in the days ahead. After that, the chart suggests BTC will face a strong drop toward $15,000, then consolidation from there.
This is in line with the sentiment shared by a number of other analysts, who say that Bitcoin is unlikely to be at a trend high due to the lack of “blow-off top.” A blow-off top is when an asset rapidly appreciates in a short period of time, then reverses dramatically lower as holders sell into the rally.
Chart of BTC's price action over the past few months with an analysis by crypto trader Bitcoin jack (@BTC_JackSparrow on Twitter). Source: BTCUSD from TradingView.com
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Featured Image from Shutterstock Price tags: xbtusd, btcusd, btcusdt Charts from TradingView.com Bitcoin Faces Drop Under $16,000: What Analysts Think Is Next