Cryptocurrency

Bitcoin is at $ 11,000 this week? Analyst speaks of the “direct” Bull-Run

Bitcoin has experienced in the past few days, some strong bullish price movements – although the bulls struggled to push the crypto-currency number 1 higher, since they were faced with multiple tough rejection in the lower to 9,000 Dollar range.
While BTC is consolidating, says an Options Trader: Bitcoin needs to pump due to the fact that the traditional markets show weakness, necessarily – in order to stand out from the Rest.
This applies to the forecast of analysts, according to which the interaction of several factors suggesting that a movement is imminent, up to 11,000 $ “immediately”.

Bitcoin is consolidating traditional markets are under pressure

At the time of writing, Bitcoin is trading at a price of 8,750 $, which means a slight decrease compared to yesterday, set the Days highs at $ 9,000.
BTC is traded for a long time this current price level, because a buyer could not build enough buying pressure to overcome the strong resistance in the entire lower of 9,000 dollars.
The cryptocurrency should be in a position today to push to the top, while many of the traditional assets of a certain values are subject to downward pressure, this could result in a price surge.
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A popular Options Trader, writes about this possibility in a Tweet and commented: He was of the opinion that the low margin of Bitcoin at $8,400 could be a good long-term opportunity.

“BTC: Looks as if he was standing a little close to the low of the range is struggling. The eyes on this next 4HR close, most likely, before I take a Position. I am *interested* in a Long Position near the low rate, but most of the plants seem to open up this Morning with a bad Performance. BTC will have to stand out, to pump.“

BTC could move soon in the direction of $ 11,000

Another Analyst by the name of Crypto_Birb is of the opinion that Bitcoin is well-positioned to soon to rise in the direction of $ 11,000 to make.
Crypto_Birb writes about BTC at $11K with reference to the diagram below:

“BTC 11k+ is imminent IMO”

Image: CryptoBirb
To graphics, he explained that the Cryptocurrency was able to print in March at 3800 $, a Higher-time-frame-Deep, while the so-called Stoch Momentum signal indicator, that there is still room for an extension of the recent upward trends.
Conclusion: Should contribute these factors to push Bitcoin in the coming days to the top, so it is very likely that BTC will contribute to a positive development against the Backdrop of global turbulence and to increase its price action more.
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About the author

Eve Manning

A native Texan, Eve first started out as a Finance Analyst and later realized that her true passion was not in trading but in writing. She leverages her experience in the Finance industry to analyse and write in-depth news articles covering the Cryptocurrencies, Economy & Finance industries.

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