YouTube's largest crypto analyst says he believes Bitcoin will rally to around $ 6,000 before the next significant dip. Nicholas Merten (aka DataDash) told his 313,000 subscribers that he is bullish in the short term, mainly because the recently sold BTC site volume did not match the buy side activity that brought BTC over $ 5,000 over this month.
"What I like is, Although we had a pretty sharp sale here, we can see that as much as there was a fairly steady amount of selling side action in terms of price, volume at least on floating exchanges like Coinbase, Bitstamp "Gemini, you name it, was not near the buy side activity that we had these two days. So it is very good to see that the market does not break through the same level. We were actually able to come back and the actual The industry was over $ 5,000 and we still have to recover some of those losses. "
Merten says he believes continued speculation can bring BTC to $ 6,000 in two weeks or less. [1
Due to Bitcoin's extended smoothing of the $ 6,000 psychological barrier during 2018, Merten says the line will be extremely difficult for the bulls to go through in the short term. Merten is betting on Bitcoin dipping for a third higher low in the next month or two.
"I don't think we should get enough significant risk taking, especially with not only how fast this rally has been, but also with where we are fundamentally in markets, climbing over $ 6,000. I know many people want it, I honestly do not see what is happening …
As we all know, previous resistance tends to be new support, and past support tends to be a new resistance, which was one year's worth of support, which is not good news for the bulls, it's going to be very hard to test this area, so I think we'll be up to $ 5,800, $ 6,000, and then we'll come back and put a third higher low, possibly in this case somewhere around $ 3,700 to $ 3,800, once in May or June in this case.
Again, whatever I am looking for, it should come down to the support line or hold on to previous resistance "I want to be optimal against the idea of buying here, too, if we come back to even this guide around $ 4,200. "
Right now, the crypto markets are mostly in the red. Bitcoin is down 0.81% at $ 5.074. Ethereum is down 4.88% at $ 155, and XRP is down 1.49% at $ 0.3222.
Technical analyst from CoinDesk Ombin Godbole says Bitcoin's 14-day RSI indicates that BTC is extremely overbought, and suggests a $ 4,912 refund,
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