We hadn’t seen a Bitcoin above $30,000 or an Ethereum over $2,000 in almost a year and suddenly after a bullish wave, the analysts and traders are now predicting how the cryptocurrency market will further gain momentum and how they will recapture the never seen levels.
A popular analyst has predicted that Bitcoin will explode and rally to levels similar to it’s all-time high of almost $69,000. According to anonymous analyst DonAlt’s, in order to launch a bull market, Bitcoin bulls must overcome one more resistance level at about $33,000.
However, if Bitcoin moves above its immediate barrier, the crypto trader does not anticipate BTC moving in a straight line towards the record high. He predicted that a quick corrective reaction will likely come after the breakout rally at $33,000.
The analyst added, “I think if it goes full bull it would look something like this… There will be a big nuke for me to get trades in, there always is.”
The breakout rise might take Bitcoin close to $50,000, according to the trader’s chart, before it declines and finds support near $30,000.
Cred, a fellow analyst, had similar predictions for Bitcoin. The analyst said that Bitcoin will reach the $32,250 price level without any resistance or opposition, with the next region of concern coming around $35,000. Cred predicted that if those thresholds are breached, Bitcoin would rise swiftly to $40,000.
“Sellers have had a hard time selling this market under $30,000. Personally didn’t see $30,000> as an important area of resistance. I think low-mid $30,000 is the area that actually matters. Will look for rotations lower from there before market teleports to $40,000 and liquidates me.”
Source: https://coinpedia.org/bitcoin/bitcoin-price-analysis-heres-how-btc-price-will-hit-50k-level/