Here’s the Analyst’s New Bitcoin Prediction Who Knows 6,100, $ 10,500, Rally 2020 & More.
Bitcoin (BTC) approaches critical resistance of $ 19,500. According to analysts, BTC must overcome this hurdle to climb higher. If the selling pressure here remains stable and continues to impede the growth of the cryptocurrency, the bears can gain control over BTC’s price movements. Also, BTC could drop to $ 18,000 once again, according to analysts. Where the medium-term trend is will depend largely on whether the bulls can maintain critical levels.
Last week, BTC dropped to as low as $ 16,400 after encountering a rejection around $ 19,500. Earlier this week, a rejection at the same price level caused BTC to plunge to lows of $ 18,200. If BTC encounters another rejection at these highs, the bulls need to keep the price above $ 18,200 to move higher. A veteran analyst points out that the defense in the $ 18,000 – $ 18,500 zone over the past few days is an upward trend for the cryptocurrency, pointing to further increases in the near term.
DonAlt: Bitcoin trend strongly in favor of bulls
At the time of writing, Bitcoin is trading in an upward direction at its current price of $ 19,350, indicating a massive rise from its low of $ 18,200 earlier this week. These drops came shortly after the leading cryptocurrency surpassed $ 19,800 and faced massive rejection. The selling pressure here has triggered multiple corrections, and it remains unclear whether BTC will move above this zone in the next move.
DonAlt, a veteran analyst, announced his new analysis for Bitcoin. The analyst explained that Bitcoin’s price was getting stronger as it kept above the $ 18,000 zone. DonAlt notes that the buying pressure here is quite intense and the trend of the leading cryptocurrency may remain strongly in the bulls’ favor as long as it does not face a hard sell. DonAlt adds the following to his comments on the subject:
BTC UPDATE: IT LOOKS LIKE THE MONKEYS WON THIS ROUND. OVERALL, THE AREA OF $ 18.3 – $ 18.7 IS AN IMPORTANT AREA. WE BREAK IT AND JUMP AT BEST, AND FIX IT AT WORST. ANY LOWER UPTREND ON THE CHARTS IS DUE TO THE SUPPORT LEVEL THAT SEEMS PREVAILING SO FAR.
Here are DonAlt’s successful Bitcoin predictions
DonAlt, who kept Bitcoin predictions, knew $ 6,100 on March 28. Also, DonAlt correctly predicted Bitcoin’s 44% rally in early January and successfully set the peak on February 12, when BTC climbed above $ 10,300. Apart from that, the analyst has other predictions that hold up.