Reporting $ 8,000 and $ 10,000: These Levels Will Blast Bitcoin!
Coinputin.com – Bitcoin saw a strong rally recently, but followed by sharp corrections. However, according to analysts, the bulls are now aiming to raise the leading cryptocurrency again. Which direction will the next BTC trend take will depend on whether the bulls can maintain the ongoing trend as the weekly candle rapidly approaches. Where this candle closes will likely set the trend for next week and provide insight into BTC’s macro outlook, analysts say.
There are still a few key levels that bitcoin must surpass before seeing a significant rise. Currently, BTC is trading across several key levels and will give an idea of how it reacts to the selling pressure that exists here. A popular trader points out that breaking the resistance just above where BTC is currently trading could form the basis for an explosive move. However, a rejection here could stop BTC from growing and cause it to continue its downward trend, according to the analyst.
Here are the key levels that Bitcoin has to break to see explosive action.
At the time of writing, Bitcoin is trading marginally at its current price. According to analysts, if Bitcoin can keep its price above the $ 17,000 level and possibly move into the $ 18,000 zone, there could be more bullishness in the market. Josh Rager, a popular analyst, shared his new BTC analysis.
The analyst explained that Bitcoin’s response to the current price zone will provide important information about its short-term trend. The analyst points to the price zone between $ 17,650 and $ 17,800 as a “sticky area” that could slow Bitcoin’s rise. So far this has proven to be true, according to the analyst. Josh Rager adds the following to his comments on the subject:
BTC: BITCOIN IS RE-TESTING $ 17,160 HERE AND I WANT TO SEE THAT LEVEL ACCELERATES THE RISE. THE NEXT ADHESIVE FIELD, BEFORE DEGRADING, BEFORE SUPPORT IS BETWEEN 17,650 TO 17,800 USD. TAKE BACK FROM THERE AND I THINK IT IS A GOOD START FOR THIS PRICE, BECAUSE IT SHOULD BE MOVED TO THE MIDDLE 18,000 USD.
Here are Josh Rager’s successful Bitcoin predictions
Josh Rager correctly knew the $ 2,000 drop in Bitcoin from $ 10,000 to $ 8,000 on May 10. So the analyst knew about the whale selloff. In addition, the analyst correctly predicted that BTC will rise above $ 10 thousand. Apart from these, the analyst has achieved high success in many of his predictions in the recent period.