“If This Level Is Broken, BTC Explodes!”: Here’s The Last Minute Prediction From Bitcoin Oracle
Bitcoin (BTC) has passed the key level of $ 12,000 after weeks of consolidation. This was a psychological turning point that BTC has long struggled with as it has always been rejected. However, Bitcoin could not stay above this level for long and experienced a drastic correction. So what’s next for the bitcoin market? A veteran trader believes cryptocurrency will see higher levels if it exceeds $ 13,000.
Famous trader Julien: If Bitcoin breaks $ 13,000, it will explode!
Bitcoin has been met with strong momentum as it traversed $ 12,000 this week. The world’s largest cryptocurrency was trading in a narrow range of $ 11,200 to $ 12,000 for about two weeks. BTC cleared the $ 12,000 level, surpassing $ 12,400 for the first time in more than a year. And for some observers, if the cryptocurrency can break $ 13,000, it could come to the moon.
It seems extreme to see BTC-Mar21 trading 6% above spot. We have been at this level about four times since 2017. If #BTC breaches 13k+ this thing is going to explode. pic.twitter.com/w9rOl1OXCQ
— Julien (@JSterz) August 17, 2020
Famous trader Julien observed in his analysis that he recently shared that the spreads of BTC futures show that the cryptocurrency will continue to rise. Specifically, the analyst revealed that Bitcoin futures contracts, which will expire in March next year, are traded 6% above the Bitcoin spot price. Famous trader, “If Bitcoin breaks $ 13,000, it will explode!” said.
John Bollinger: Bitcoin’s rise is an excellent development so far
John Bollinger, the renowned inventor of the Bollinger Bands used to measure Bitcoin’s volatility , claims that Bitcoin’s recent volatility is an excellent advance. The technical analyst also adds that Bitcoin’s movement above $ 12,000 is within the Bollinger Bands. John Bollinger said on the subject:
I GUESS SOMEONE IS COMPLAINING ABOUT THE BTC / USD RALLY. I’M NOT, SO FAR IT HAS MADE EXCELLENT PROGRESS. SQUEEZE IT, CONFIRM IT IS BROKEN, WALK IN THE UPPER BAND, CONSOLIDATION, SUPPORT IN THE MIDDLE BAND, MINI SQUEEZE, TAKE TO NEW HEIGHTS. WHAT MORE COULD YOU ASK FOR ?!
Many of John Bollinger’s Bitcoin predictions have been pretty successful last year. That’s why market participants pay close attention to the analyst’s words. In April, the analyst commented before a 40 percent jump in bitcoin price, creating the model outlined by the leading crypto analyst. At the beginning of June, John Bollinger urged investors to be “cautious or short” after the price rose to $ 10,400, and he predicted this correctly.
