[Market] Why Bitcoin is expected to rise by 25% in the next few weeks, spring break $ 9,000

During the festival, Bitcoin (BTC) stagnated at a low of $ 7,000, find themselves caught between heavy macro support the mid-US $ 6,000 US $ 7,000 with a very high resistance, encryption currency has been repeatedly rejected.

Although some say the show is about to reject back to $ 6,000, then $ 5,000, but the growing sentiment showed that leading encryption currency may trade between $ 8,000 and $ 9,000 in the coming weeks. In order to increase the credibility of this statement, BTC views this month traded at around $ 9,000 to get a lot of support for technical analysis.

Bitcoin to the end of January will exceed $ 9,000?

Encryption currency dealers Velvet Friday released the following analysis, showed that he believed Bitcoin is currently in the middle of Wyckoff textbooks reflect the accumulation mode: strong decline, recovery and false breakthroughs are limited resistance, the biggest decline initially tried to break through the bottom of the new resistance failed attempts, followed by a final shock, and later rose to the level before the decline.

As the final elimination stage Velvet suggested, at present, Bitcoin is in this mode, the recent price drop to $ 6,800. If this textbook technical analysis mode to fully play a role as well-known research technician Richard Wyckoff (Richard Wyckoff), then to the end of a BTC may exceed $ 9,000, or even exceeded $ 10,000.


Analysis shows that not only imminent bullish momentum

Velvet assertion, Bitcoin is in the midst extend Wyckoff spring / accumulation mode is not the only hint immediately back to $ 9,000 or even higher thoughts.

As traders SalsaTekila said, according to the store's previous report, in the first week, Bitcoin prices over the past three years have soared in January of each year. 2017, BTC before 7 days of the year rose by 21.9%; 24.3% in 2018; last year was 11.8%.

The same pattern Bitcoin again means that assets may soar to $ 8,000 and $ 9,000.

In addition, foreign exchange and Chief Executive Officer encryption Monetary Fund Three Arrows Capital of Su Zhu recently on Twitter that he believes Bitcoin price outlook will continue until 2020. The famous commentator cited in particular his analysis of the BTC / USDT transaction on its premium on BTC / USD market and the overall price movements, suggesting that "there are clear signs of accumulation, capital flow back into risk."