Over the past few hours, Bitcoin has finally seen strong growth, surpassing the $ 9,200 – $ 9,400 range bound for the weekend. Within minutes Bitcoin hit $ 9,620 – up 2.3%. But soon 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.
Think we got our answer….
– dave the wave (@davthewave) February 3, 2020
Dave the Wave is a famous cryptocurrency trader, he tweeted when Bitcoin price reached $ 9,600, including a Bitcoin trading chart in a small parabola. This shows that its price 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 opinion
It's not just Dave who thinks that $ 11,000 or $ 12,000 is Bitcoin's goal.
Renowned financial analyst Survivalism, who in early January said he expects BTC to rise to $ 9,000 in mid-January – posted the tweet below, showing BTC has formed a cup and hand pattern. Perfect grip.
#Bitcoin just confirmed a cup and handle with today’s close. If it can reach maintained target of $ 11,675 then it would be the first higher high on the weekly in seven months. 🚀 pic.twitter.com/wZSTgzSCCt
– Financial Survivalism (@Sawcruhteez) January 29, 2020
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 in seven months if Bitcoin reaches that price.
And who could forget Filb Filb, the trader who predicted Bitcoin's $ 3,000 bottom in 2018 followed by the collapse of $ 6,000 last October?
Filb expects BTC to trade nearly $ 12,500 at the Halving block reward event in May 2020.
Bitcoin Magazine | Ethereumworldnews
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