35% Possibility Bitcoin is in Bearish Reversal, Analyst Explains Why
A paused Bitcoin price rally has increased its probability of undergoing a major pullback, as per independent analyst Vince Prince.
Bitcoin has faced a slight reversal since the highs of $11,750 set a number of days ago. The coin currently trades for $11,350 as of this article’s writing, 3.4% below the highs. Analysts remain optimistic despite the price reversal. One historically accurate analyst that has called a number of pivotal movements in the Bitcoin price […]
Few expected Bitcoin to bounce back after the crash in March. The cryptocurrency had basically halved within a single 24-hour time frame, leaving many convinced that the asset’s life span was over. But one trader predicted a reversal. He published a tweet amid the downturn noting that by the end of May or June, he expected Bitcoin to be trading at $10,000. At the time he posted the chart, the world was in chaos, with […]
Bitcoin could rocket even higher in the near to medium term. One analyst believes that $16,000 is in sight after BTC managed to flip $10,000 into support. The analyst who made this assertion is the same one that predicted BTC would undergo a V-shaped reversal to $10,000 by May or June. Bitcoin Could Soon Rocket Towards $16,000, Analyst Predicts Bitcoin could rocket even higher in the near to medium term, analysts argue after the coin […]
Bitcoin has the least possibility of crashing below $25,000 now that institutional involvement in the space is hitting a record high, says Ki-Young Ju.
Many traders agree that the pair could continue its move lower, forming a potential Head and Shoulder pattern, a bearish reversal structure.