Calm before the storm? Analyst says $20K Bitcoin possible in 3 months

Calm before the storm? Analyst says $20K Bitcoin possible in 3 months

Mohit Sorout says Bitcoin could rise to a new all-time high in three months when it breaks out of the existing range. The price of Bitcoin (BTC) has been consolidating within a tight range for several months. If the top cryptocurrency successfully breaks out, Bitazu Capital founding partner Mohit Sorout says a record-high would be imminent.Since July 2020, Bitcoin has been ranging between $10,200 and $11,800, a 15% range. It has seen subdued volatility for a prolonged period, except for some short instances of a volatility spike.When Bitcoin stays stable for a long time in a tight price....


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Bitcoin’s Calm before a Storm?

The Bitcoin market is relatively unchanged from yesterday. A bit higher but nothing remarkable. Here is the 8-hour chart we looked at yesterday: As we can see, the 2nd arc of the pair provided support, but the top of the square has been solid resistance. This leads us to the recurring question traders ask all the time” Which will give first? Resistance or Support? I continue to believe that the support will give first, for reasons discussed at length in recent columns. In a nutshell, it’s because the 1st arc pair has already been violated 3 times. I expect it is therefore highly likely....