Famous Trader Announces Factors to Carry Bitcoin to 5-Digit Values
Bitcoin price gained more than 175% in the past three months, rising from $ 3,700 to the current level of $ 9,350. However, the uptrend trend of BTC has cooled in recent weeks after entering a long consolidation phase just below the $ 10,000 area.
Despite the price drop, a crypto trader shared a bullish indicators that raised Bitcoin to $ 15,000 in the near term.
These Four Positive Factors Mark $ 15K in Bitcoin
The $ 10,000 area has become a battleground for sellers and buyers. As buyers try to move the price beyond the specified level, sellers come into play quickly and prevent the rise.
On June 10, bitcoin experienced a short-lived run of over $ 10,000 after comments by Federal Reserve President Jerome Powell. Unfortunately, the bulls lost strength as the price retreated below $ 10,000.However, trader Jon CC believes that BTC has printed four bull signs that only show a $ 15,000 rally. First, the analyst says that BTC successfully supports the $ 9.7K resistance.
Secondly, every BTC price drop is aggressively bought. The third bull catalyst for price increase is bitcoin’s indicator reading called Awesome Oscillator (AO), which cannot return to a neutral “0” reading. This just marks the official start of a new bull run. Finally, Jon CC points to golden crosses printed on multiple Exponential Moving Average (EMA).Trader says that the convergence of bull indicators pointing to these high levels could mean an increase for the bitcoin price. He also shares a chart showing that bitcoin is ready to surpass $ 15,000 in the middle of next month.
Alright I give up. I keep trying to find reasons to be bearish but Im running out of ideas. We've:
– Flipped 9.7k resistance range high
– Every dip gets bought
– Failed to return to 0 line on AO
– EMA golden crossed
I give up. Joining the moon boy team 🚀 GL everyone 🙏 pic.twitter.com/2sHctOJXby
— Jon CC (@JonCCT) June 10, 2020
Could BTC achieve such a strong price action?
As mentioned earlier, Bitcoin has been caught in a tight trading range from $ 9,700 to just under $ 10,000 in recent weeks. In many cases where Bitcoin managed to break $ 10,000, the flagship of cryptocurrencies ate a rapid rejection.For a break above the $ 15,000 level, bitcoin will have to destroy the $ 10,000 barrier first. Fortunately, the key technical factors indicated by trader Jon CC can catalyze the short-term momentum of the asset.
Moreover, Jason Williams from Morgan Creek stated that bitcoin investors should act cautiously, stating that “something really big is about to happen in bitcoin” in the next 10 days or even less.What Williams said was probably the case last night. Because Bitcoin erased about $ 1000 and fell to 9 thousand levels and then recovered towards $ 9,350.