There are some forecasts made by the various traders. They are all set to increase the BTC/USD to $ 10,500 with a possible continuation of the upward trend. What can prevent this scenario and what signal indicates that right now is the best time to buy BTC.
Crypto Zombie
Crypto Zombie indicates that we have received double confirmation of customers below $ 9,000 and support from 200 and 100 daily MA.
At the same time, Bitcoin keeps moving in the upward channel. If it takes resistance at $ 9,300 (and as we know, it already did), the next stop is at $ 10,500, and we can get this price next week. Crypto Zombie also noted the presence of a gap on the daily chart of Bitcoin futures on CME, but it has already closed:
The main resistance is from $ 10,000 to $ 10,500. Bitcoin will break out of the falling channel and go to new heights, possibly even $ 15,000 if it takes it. The main thing is that there are seven consecutive green candles on the Bitcoin chart, which may be a sign of strong growth.
Tyler S
Tyler S began his analysis with the fact that we have seven green candles for a week in a row, just like it was in 2019.
He notes that there is a coincidence between the current situation and what we observed in 2019 because in both cases the price received support from the 200-week moving average.
According to Tyler S if this scenario works and explosive growth awaits us, then it can start at $ 9,800 when breaking through the upper boundary of the global triangle from the past to the moon.
And great news for everyone except bitcoin maximalists. According to Tyler S, the cryptocurrency market is now at the stage of the onset of parabolic growth. This forecast is not for tomorrow, but for the next one or two years, and as the trader notes, many coins do not deserve to be invested in. But due to the growing interest in Bitcoin, demand for altcoins will sharply increase, after which they will all receive a pump to one degree or another, and the cryptocurrency market capitalization will exceed $ 1 trillion and go even further.
Sunny Decree
Sunny Decree notes Bitcoin attempts to break out of the global downtrend line again. This does not mean that a reversal has occurred, on May 7 and 8 the price was also above this line.
And to confirm the breakthrough, you need one, or better, two weekly candles to close above this trend.
Sunny Decree is bullish because in his understanding, the pump before the halving has already passed and it ended in a regular dump on May 10th. And now we are seeing real purchases, and as the price on the hourly chart demonstrates, Bitcoin receives support above the global trend line, which may indicate a successful take of this level.
True, then the trader recalled that technical analysis is good, but Bitcoin is an unpredictable asset and you should never forget about stop loss if you are actively trading.
MMCrypto
MMCrypto advises traders to take part of the profit now, especially if they went below $ 9,000. But in general, his forecast is also set for growth, and that’s why.
Bitcoin successfully received support from the 200-day moving average. Further, Bitcoin needs to enter the zone from $ 9,800 to $ 10,500 and successfully break through this resistance. This level kept the price from rising since the fall of 2019, but now the picture has changed and there is a chance to break out of this figure. After which MMCrypto believes that Bitcoin will move to a phase of constant growth, as it was, for example, in 2017. At the end of which a new parabolic growth may result, he is a native.
The analyst went on to talk about printing Tether $ 2.5 billion, which should push the market and push it up. But much more interesting is that now the indicator, which previously gave a buy signal during the previous lowest prices in the market, again indicates the best time to buy.
Everyone is waiting for the time to come, that we will finally return to a carefree 2017 when you just had to buy and get profit for it, and when everyone considered themselves the rulers of the world, or at least guru-trading.
But since everything is on such a positive side, we dare to take the opposite side and say the following. This is nothing more than our thoughts and assumptions, but judging by the fact that the market is manipulated and there is one big thing that calls DUMP, then Bitcoin needs to be given a little more growth.
Source: en.bit.news
