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Analyst: Bitcoin can target $ 8,200 despite recent stability; Is Bull Run Over?



Bitcoin has experienced some incredibly positive price trades in recent months, but it started with consistent, steady gains quickly changing to massive volatility after BTC began to move parabolically, eventually resulting in the crypt losing its speed and plummeting from

Now it seems that Bitcoin has entered a consolidation period, bouncing between the upper $ 10,000 region and the lower $ 12,000 region. It is important that an analyst believes that BTC's current consolidation trend could lead to a $ 8,200 decline.

Bitcoin keeps up support but fails to move higher

Bitcoin trades up marginally with its current price of $ 11,950 [19659002] Bitcoin's volatility only began earlier this week when BTC's upward momentum was parabolic, leading from a weekly $ 1

0,500 drop to $ 13,800.

Despite this, the voyage did not cease, t lasts a long time, when the crypto course fell rapidly after hitting this level, and erased the majority of its parabolic winnings when it then declined to $ 10,600.

In the time of this price movement, Bitcoin has found a stability of about $ 11,500 and $ 12,500, which appears to be a new trading area that can last for the foreseeable future.

In the short term, it is important that the BTC be closed over by the bottom of Josh Rager, a popular crypto analyst on Twitter, talked about this in a recent tweet, explaining that a close above this level could lead to the crypto exchange. back to the upper $ 13,000 region.

"$ BTC – looks at a weekly close over $ 11,510. Confluence at that level, if closed below, then real opportunity for price to retest at $ 9532 (0.322 fib). Close over can lead to higher likelihood of retest local heights of $ 13800s, "noted Rager.

29. June 2019

Analyst: Despite Uptrend, BTC can measure $ 8,200 Next

Although today's daily closed will likely determine which direction Bitcoin is heading next, newly established technical formations may point to the possibility that

Mitoshi Kaku, another popular crypto analyst on Twitter, talked about this opportunity in a recent tweet, noting that a break over $ 13,200 would void this theory.

"I would like to wait a little more to share it, as I try new and more complex formulas right now and I need more confirmations / data. But this is the scenario I have next move, as long as we don't breaks and closes over 13.2K (Invalidity), he explained referring to the chart below:

After an incredibly volatile week, it is unclear whether this volatility will transfer to the weekend or not if the BTC will begin to consolidate and be exposed sideways. trade the next few days.

  Featured image from Shutterstock. 




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