Logarithmic uptrend: when the Bitcoin price will rise to 150 thousand dollars?
Source:
In 2018, made a huge number of support levels that were previously considered «absolute bottom». The cryptocurrency has fallen so rapidly that it is not kept even long-term moving averages lines. However, in the opinion of the famous trader under the name MagicPoopCanon, Bitcoin is still in the global uptrend.
theWe grow
To charge everyone another dose of positive, MagicPoopCanon has published a detailed technical analysis Bitcoin long term chart. According to him, cryptocurrency is «cyclical uptrend».
Source: Included
To delineate the future of the historical maximum of the asset, sufficient to carry out logarithmic uptrend line, and then build a similar curve crossing the previous peaks of Bitcoin. The result is an ascending channel. Unfortunately, MagicPoopCanon still not looking forward to the steady growth of the cryptocurrency in 2019 — the most part of this period, the asset will be traded between lines 3000 and 5000 dollars.
By August 2023 coin definitely needs to stay above the designated level of support. Moreover, to this date, Bitcoin has the potential to grow by at least 150 thousand dollars. Earlier, a survey of cryptocommunist showed that the majority of the market players on the growth of the major cryptocurrencies to at least 100 thousand dollars. The upper limit of their expectations at all is the million-dollar range.
However, in the short term, no one can rule out another plum. At least there is a high probability of a new fall of Bitcoin in the area of $ 3,000. According to the trader Murad Makhmudov, many analysts are mistaken in expecting a sharp rise in price of crypt this year. All of their comparisons with previous bear market only confirms this view.
Crypto Twitter right now:
— Murad Mahmudov
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