After a little inspiring early June, Bitcoin investors are wondering what to do with the largest cryptocurrency in the world. Interestingly, analysts have always been the leitmotil when there is uncertainty about the next direction of cryptocurrency. Therefore, an outstanding market expert presented the exhilarating projection of Bitcoin prices.
Like the price of bitcoins can boost to USD 150,000
In the last post about Platform X, Khartered Market Technician Tony Severino put out Compelling Bitcoin price analysis. According to the cryptographic expert, the price of BTC can travel as high as $ 150,000 in the next stubborn phase.
The reasoning of this stubborn projection is to create a bull flag pattern at the daily time of the Bitcoin price chart. The bull flag is a technical model of analysis characterized by a period of steep movement up (flag), and then sideways or a slightly inheritance price.
. bull’s flag It is usually considered a dominant continuation pattern for the existing up trend, which suggests a potential transition to a higher price. It is extremely critical to wait for a successful break from consolidation before determining that the price will last up the trajectory.
Source: @TonyTheBullCMT on X
According to Severino, the price of bitcoins can be on the way to Recent Time, if this bull flag is critical and the price successfully comes out of the pattern. The purpose for this chart pattern is usually determined by adding a vertical height of the flag to a potential groundbreaking point from the flag.
What other indicators say
Severino Highlighted Another indicator and explained what currently says about the next Bitcoin leg. For example, a cryptographic expert mentioned that Bollinger’s teams are squeezing, which means that although there is currently low market variability, a significant price movement may occur on the horizon.
Severino also mentioned that the price of Bitcoins has not reached the lower band of the Bollinger band indicator, which can be “false” before the flagship cryptocurrency sets out in a fresh gear up. However, investors may want to watch over the level of $ 111,000 in the daily time to confirm the potential lasting upward trend.
Closing under the lower band, which is just under the sign of USD 101,000, may suggest a decrease in shares at the price of bitcoins. In this letter, the price of BTC is above USD 105,000, which reflects almost 2% boost in the last 24 hours.
The price of BTC on the daily timeframe | Source: BTCUSDT chart on TradingView
Recommended photo from Istock, chart from TradingView
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