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Analyst: Bitcoin (BTC) is likely to pump again, before substantially Retracing



Bitcoin managed to maintain almost all of its latest achievements over the past week and was able to maintain a stability of around $ 5,300 a month. This positive BTC price has led to an influx of capital into other cybercurrencies, which has led many analysts to proclaim "Cryptosis of the winter."

Despite celebrating the end of the long and heavy bear-line of the Crypto Markets, a well-known analyst thinks it's still too early to be excited, since Bitcoin can make another big boost up before getting to a significant level of resistance that will lead to what he describes as "significant recovery." (BTC) Stable at $ 5,300

At the time of writing, Bitcoin trades almost 2% at its current price of $ 5240 and trades only slightly below the recently set highs of $ 5,300. At present, the BTC has increased significantly from the minimum monthly of $ 3800.

Although Bitcoin shows slight signs that any downward price movement will occur in the near future, Josh Olshewicz, a popular cybercriminals analyst on Twitter, has just explained that he sees Building a bear unit at a higher time zone .

"4h $ BTC: how others point to … RW + bear div in high TF res … 50% = $ 4750," he explained succinctly, that the return to $ 1

9650 may be inevitable.

Despite this, Olshevich also added that Bitkins could continue to increase, making a parallel between the current price of BTC. t

shares and Litecoin in the vast majority of the price action of last month 007] "It is important to note that the likelihood of a reversal is high, but continuation is impossible. $ LTC had the same installation last month and just kept moving. I close here for a long time and will not be short, it's much better to have bets on the book than to bulldozize the continuation of the bull, "he explained.

Analyst: The BTC will rise again before rebooting

Although Bitcoin can lay the groundwork for continuing its recent price, one analyst thinks that in the near future the BTC will see significant prosecution.

Lucid TA, another popular cryptanalyst in Twitter, recently explained this posting by saying he expects crypto to make another push to $ 5,800 he is confronted with sig. The most likely scenario, in my opinion, is what we see another pump before significant recovery. Modestly at $ BTC (about $ 5,550 on Coinbase), although * much * much more so on salt. Invalid if $ 5052 break (CB), – he said.

During the week, prices continue to expand on the market, traders hope to better understand whether they are really long-term "Crypt winter" is really over, or if the bears still have a lot of ammunition to lower the markets.

  Selected image from Shutterstock. 




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