Bitcoin price again fell to $39,000 a couple of times as it attempted a “V-shaped” recovery from recent losses. The bulls here are not trying to push the price beyond $40,000 or allow it to fall below $38,500 for too long. And therefore, it can be speculated that the price of BTC may eventually rise above all odds to a range above $40,000 this weekend.
On the contrary, the bitcoin price It shows the possibility of experiencing a massive rise and also has a significant chance of falling to $32,000. One of the popular analysts discovered the possible price movements of Bitcoin in the coming times.
Here, the analyst believes that the price of BTC could see a strong rebound from $37,800, which is the descending low of a higher low. Therefore, the price may bottom and here it may bounce strongly to reach $69,000, which is also neckline support. Or, it can slide down sharply rejecting lower support to test lower support around $33,000.
In the current times, when the stock market is experiencing heavy turmoil, the crypto space seems to be unaffected. Bitcoin price and popular altcoins are both experiencing their respective trend. And thus, the decoupling of the crypto space from external factors may keep its upside until the end of the week and eventually close out monthly trading.
Disclaimer: The information found on CryptoReport is that of the cited writers. It does not represent the opinions of Criptoinforma on whether to buy, sell or hold investments. You are advised to conduct your own research before making any investment decisions. Use the information provided at your own risk. See the Legal Notice for more information.
Buy and sell Bitcoin and other cryptocurrencies on Binance, the most comprehensive cryptocurrency exchange to safely and conveniently invest in the world’s most traded cryptocurrencies. Sign up and see how simple it is, go to: https://binance.com