Bitcoin (BTC) Is Now Ready For A Massive Move
Bitcoin has been consolidating above $9k for a really time long now.
At the moment of writing this article, BTC is trading in the green, and the coin is priced at $9,342.13. It’s up by more than 1.30% in the past 24 hours.
Bitcoin’s three-month-long tightening trading range may end
It’s been just revealed that Bitcoin’s three-month-long tightening trading range may end right away, says Morgan Creek Digital executive Jason Williams.
He posted on Twitter that the king coin seems to be poised for a big move upwards. BTC is approaching the apex on an ascending triangle pattern on the short-term timeframe.
This feels like a little World Cup of sorts. #bitcoin could break out on or about the 22nd.
I don’t think I would want to be on the sidelines going into this but low time pref 🧠
— Jason Williams 🦍 (@JWilliamsFstmed) July 19, 2020
A follower said: “Been investing and trading for way too many years to make a prediction on when #bitcoin will move higher. I disavow any near term prediction of time or magnitude. If someone is buying based on such a prediction I strongly suggest DONT! THINK YEARS not Days, Weeks, Months.”
Someone responded: “To counter-argue predictions is a prediction in itself. There is no arguing with quantitative data. ‘Gut feelings’ do not apply. Length of experience does not automatically equate to profitability and expertise. The chart does not lie.”
Here’s what pseudonymous crypto trader Walter Wyckoff had to say as a prediction for this week:
Probably $SPX gonna rip on the vaccine news and if that happens gonna pull up $BTC. I think that futures opening on legacy will give a clue on what we should expect for the breakout of $BTC. Can’t see bitcoin giga dumping while markets make new highs
— Walter Wyckoff (@walter_wyckoff) July 19, 2020
Stay tuned for more predictions.
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Andreas Townsend Author
I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.