Technical Analysis: Bitcoin start to rebound? Next Target $8.6K?Since the Mid of July 2019, the Bitcoin price have been sidelined from it’s 2019 highest price at $13,000. Start from there, the price slowly drop to $10,000 on September. Most recently the price go down at $8,000. Many investors have asking where is the floor and when Bitcoin will start to rebound?
Still some of the market analyst are calling for another 25% drop to $6,000, which is where a number of traders believe the cryptocurrency market will find an ultimate bottom before a multi-year bull market.
But there is trusted evidence suggesting that the 1st cryptocurrency will soon reverse rebound.
Mohit Sorout, Market analyst at Bitazu Capital, noted that a number of Bitcoin indicators are reaching an inflection point, which he believes is where BTC’s price will finally bounce. “[The] Relative Strength Index, positive Directional Indicator, and negative Directional Indicator all have to reset to an important horizontal level,” he argued before adding that “such levels have only one job: to turn the BTC price around.”
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https://maishince.online/technical-analysis-bitcoin-start-to-rebound-next-target-8-2k/According to another veiw from Analyst in Tradingview (Mr AlanMaster) suggesting that the Bitcoin are in rebound phase and estimate price can go high up to $8,600.
In his comment, he are assuring that Bitcoin are showing reversal signals.
He added in that
” Price now moving above EMA10 and gaining momentum. If this movement continue, we can expect Bitcoin to hit $8,088 easily followed by $8,200 .
“The $7,800 – $7,900 is where we can find string support. If prices move lower, this will be very important level ” said him in the comment.
Details in here guys :
https://maishince.online/technical-analysis-bitcoin-start-to-rebound-next-target-8-2k/What do you think?
Is it we already found the floor and Bitcoin will start to rebound?
Yes it can go higher again and again after going down. It just looks like a wave in the chart that it goes up and down. But its price varies in time, so make a good decision and great timing in buying and selling coin to gain more profit. Just be careful about the time, always consider the season where it goes high and low.