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Bitcoin is doing great at the beginning of this week, just like most of the important coins out there. Most of them are trading in the green and the king coin is not an exception.
At the moment of writing this article, BTC is trading in the green and the digital asset is priced at $62,746.
Bitcoin bullish prediction pops up
A popular crypto analyst is predicting an epic rally for Bitcoin (BTC) that can push the value of the king crypto at least 30% higher from its current price.
The pseudonymous analyst is known as Altcoin Sherpa.
“I think that there should be some decent support around this area. This $60,000 area, $59,000 area was an S/R flip (resistance to support) as you can see all throughout here (March to May 2021). Resistance, resistance, resistance.”
He continued and explained the following:
“Now it can be flipped to support. If this area breaks through, I expect still there to be quite a bit of support all throughout $54,000 to $57,000 or $58,000… If you also look at lower timeframe charts, the 200 EMA (exponential moving average) on the four-hour [chart] is right around this $55,000 area. So again, this area should be pretty strong support.”
The analyst also said that he expects Bitcoin to put in a bullish higher low setup before it can start its next leg up.
“I still believe Bitcoin will go to all-time high levels. I’m convinced it will break all-time high levels… I’m expecting $80,000 or something or even higher in the next few weeks.”
Stay tuned for more news, and make sure to keep your eyes on the crypto market.
Despite the strong corrections that Bitcoin has been seeing in the past few months, there are all kinds of bullish predictions about the price of the king coin that keep pouring into the crypto space.