Bitcoin flashes the Wyckoff signal, suggesting a new bull market

Over the past hours, the price of Bitcoin (BTC) has recorded a staggering growth, surpassing the range from $ 9,200 to $ 9,400 – formed in the last few days of the week. BTC quickly reached the level of $ 9,620 – representing a 2.3% increase. But then the price was pushed back to the boundary.

Bitcoin is preparing for a rally

Analysts think this is a move to increase prices and be relatively sustainable.

Dave the Wave is a famous cryptocurrency trader, he tweeted when Bitcoin price reached $ 9,600, accompanied by a Bitcoin trading chart in a small parabola. This shows that the price of the king coin could reach $ 11,500 by the end of this month, which means the price could increase by 20%.

Other top analysts agree with Dave's view

Not only did Dave think that $ 11,000 or $ 12,000 was the goal of Bitcoin.

Renowned financial analyst Survivalism, who in early January said he expects BTC to rise to $ 9,000 by mid-January – posted the tweet below, showing that BTC has formed a “cup and hand” model. grip ”perfect.

According to analysts, this particular cup and handle model has a targeted move of around $ 11,675 – 23% higher than the current price – which will mark the first peak on the weekly chart for seven month if Bitcoin reaches that price.

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And who could forget Filb Filb, the trader who predicted Bitcoin's $ 3,000 bottom in 2018 followed by the collapse of $ 6,000 in October last year?

Filb expects BTC to trade nearly $ 12,500 at the event of halving block rewards (Halving) by May 2020.

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According to EthereumWorldNews / Tapchibitcoin
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