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
Related Reading: 3 Bitcoin On-Chain Trends Show a Macro Bull Market Is Brewing
Featured Image from Shutterstock
Price tags: xbtusd, btcusd, btcusdt
Charts from
Bitcoin Faces Drop Under $16,000: What Analysts Think Is Next

Products You May Like

Articles You May Like

New Peer to Peer Exchange Provides Africans with an Alternative to Paxful
Severe Liquidity Shock Ahead for Bitcoin Market, Warns JPMorgan
Japanese Police Arrest 30 People for Allegedly Having Exchanged Stolen Cryptos From the 2018 Coincheck Hack
Altcoin Expert: Buy Crypto That Holds Up During Bitcoin Breakdown
Ethereum Could See an Explosive Move Higher Following Massive 20% Surge
Trading Bitcoin – Big $BTC Rise Over Night, but Still Need $37k Break

Leave a Reply

Your email address will not be published.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