Josh Olszewicz, Brave New Coin analyst, talked about buying opportunities for Bitcoin (BTC). Olszewicz said that Bitcoin is rarely seen to see a buy signal.
In a Tweet he posted on April 19, Olszewicz shared a video for BTC to explain the “opportunity to buy several times a year”. The analyst stated that the digital asset is about to cross the Ichimoku Cloud for the first time in five weeks, which means the price could rise significantly higher. “It doesn’t happen very often,” said Olszewicz in the video, and stated that this analysis method will save money with the buy and buy method.
— Josh Olszewicz (@CarpeNoctom) April 19, 2020
BTC Price Rises 250 Percent in 2019
Cloud formation is a more visual way to interpret cryptocurrency trends, identify support and resistance, determine trend direction, measure momentum and provide trading signals. Some averages offer analysts a way to predict whether the price has turned down or down. The method was previously used to analyze bullish trends in BTC. The move above the red cloud in 2019 marked a 250 percent increase in BTC price. BTC had risen from $ 4,000 to $ 14,000.
BTC is currently priced around $ 7,000 and has three more weeks to halving. Olszewicz for 2020 did not provide any timeline for when the cryptocurrency could rise, but said that the signal that occurred over the next few weeks, according to the cloud formation, is an opportunity to buy.
According to CoinMarketCap data, Bitcoin was trading at $ 7 thousand 206 at the time of writing.