Bitcoin has risen to almost $ 11 thousand today. How can the next move of crypto money be and how should this movement be interpreted?
Yesterday, Bitcoin, which saw the first $ 10 thousand after two months, continued its upward trend today.
Leading cryptocurrency rose to $ 10,956 at around 20.00 CET. The price is 10 thousand 810 dollars when the news goes live.
How can Bitcoin’s next course be and how should this striking price movement be interpreted? We asked these questions to several successful analysts who closely follow cryptocurrencies.
“The bullish rise continues, sales should not be made without approval”
The comment of technical analyst Mert Bozkurt, known as @TraderFinanceTR on Twitter, was as follows:
“The double bottom and 2618 strategy we mentioned earlier took all targets with the rise. The Daily Rising Wedge formation has now evolved to the Ending Channel formation. If the rise continues, the formation of Bearish Harmonic CRAB Pattern will be completed at the level of 11 thousand 306. However, as the sharp and bullish increase continues, sales should not be made without approval. The peak of the Ending Channel Formation in the diary should also be followed. ”
“The first resistance is 11 thousand dollars”
Icrypex Treasury Expert Helin Çelik, on the other hand, pointed to $ 11 thousand as the first resistance Bitcoin will face. Çelik made the following assessment:
“The second wave discourses in Kovid-19, the number of cases in the USA reached record levels, the talk of new incentive packages in Europe, and the expectation of an increase in inflation pushed the investor to limited assets, as in the process of March 2020. Along with the increase in the confidence index in the financial markets, it caused movement in gold, silver and crypto money. Meanwhile, the acceleration in cryptocurrencies, which started with the ethereum 2.0 update and DeFi projects, led the day with the increase in BTC domination to break the critical 10 thousand 370 resistance that Bitcoin was previously tested and withdrawn. The point where cryptocurrencies came in the process we lived, and the breakthroughs of digital transformation attracted the investor. In this way, we see that even countries, which show a particularly abstaining attitude towards cryptocurrencies, take positive steps about cryptocurrencies. It is known that some banks in Switzerland have increased their profits from Bitcoin asset management during the pandemic process. After this phenomenon, the fact that banks in the USA take positive steps about cryptocurrencies and the positive steps coming from Russia are coming as a trigger step for upward mobility.
When we look at the technical view, it is thought that 11000-11300-12000-12341 resistors can be followed in the light of all these data. In a possible sales pressure, it is beneficial to closely monitor the supports of 10 thousand 627, 10 thousand 491 and 10 thousand 370. It is beneficial for the investor to pay attention to the band range of 10370-10000. ”
“3-year falling trend is broken, Bitcoin is now open”
Finally, analyst and portfolio manager Erhan Ünal stated that he thinks that Bitcoin is open for the future and that 20 thousand dollars will be reached at the end of the year or early 2021. Ünal said:
“The 3-year decline breakdown in Bitcoin took place. It went up to the level of 11 thousand dollars. On March 16, when I was at the level of $ 5 thousand, I shared my target of $ 20 thousand. We are open for the future. I think we will reach the level of 20 thousand dollars by the end of the year or early 2021. A gap occurred in the opening of the week in the US futures market CME. There is a possibility of returning to close this, or for re-testing after the break but in the medium term we are open. ”