In a rare show of alignment, Bitcoin (BTC) is generating excitement among crypto enthusiasts as three prominent analysts share a bullish outlook for the leading cryptocurrency. These analysts, Michaël van de Poppe, Kaleo, and Bluntz, have expressed optimism about Bitcoin’s potential for a significant price surge.
Michaël van de Poppe Sees Bullish Signals for Bitcoin
In a recent update to his Twitter followers, crypto strategist Michaël van de Poppe has shed light on the encouraging signs visible on Bitcoin’s weekly chart. Despite moving mostly sideways and downwards since April, Bitcoin’s current price at $27,000 may seem discouraging for a potential rally anytime soon.
However, according to van de Poppe, despite the recent retreat from the psychological resistance level of $30,000, Bitcoin is still trading above two crucial technical indicators. He believes that Bitcoin’s upward momentum will continue, with a projected test of $27,600 and a potential rally toward the $38,000 to $42,000 range.
Kaleo says “$40,000 is still a magnet.“
Joining the bullish sentiment, popular crypto analyst Kaleo predicts Bitcoin will attain new yearly highs. Kaleo highlights Bitcoin’s reclaiming of support of around $27,000 as a significant development. He views this as a compelling risk/reward long setup, suggesting the possibility of a return to range highs. Kaleo maintains a target of $40,000, a level that continues to exert a magnetic pull on Bitcoin.
Bluntz Anticipates Resumption of Bitcoin’s Uptrend
Renowned for accurately calling the 2018 Bitcoin bottom, pseudonymous trader Bluntz shares an optimistic outlook on Bitcoin’s price action. Analyzing the daily chart, Bluntz notes positive follow-through candles after a reversal on Friday. Indicating a potential completion of the three-wave ABC corrective move from $30,000, he suggests that Bitcoin may be preparing for new all-time highs. Despite prevailing sentiment anticipating further downside, Bluntz emphasizes the potential for a renewed uptrend.
As of writing, Bitcoin is trading at $27,072, and it remains to be interesting to see whether it will reach the price targets set by these experts. Do you think the price targets of $38,000 to $42,000 will ignite some fire in the pit as BTC is expected to reach the ultimate target of $1M? Tell us your views.
As Michaël van de Poppe rightly said, “The market always surprises us. So, let’s see what happens next.”
Source: https://coinpedia.org/bitcoin/bitcoin-btc-predicted-to-rally-as-top-crypto-analysts-set-bullish-targets/