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Bitcoin prices may rise suddenly because of reverse trends

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Bitcoin prices may rise suddenly because of reverse trends

Bitcoin prices may rise suddenly because of reverse trends

Following the recent fall in bitcoin prices (BTC) in the region of Rp. 142 million, digital gold has been able to show a strong rebound to secure prices at Rp. 146 million.

A reversal trend could occur due to a drop in prices a few days ago. The next level of resistance will be very important to see how Bitcoin reacts

At the time of the press, the price of bitcoin was $ 10,352, up 1.2% in 24 hours, according to CoinGecko.

IDR 142 million (US $ 10,000) is an important support for Bitcoin, as any decline below this price will come back quickly.

A high level of resistance for BTC is set at $ 12,000, which is again a key level for cryptocurrency number 1. And its reaction at this level will probably indicate the direction in which the trend will continue during next six months.

Although Bitcoin's recent rebound from a dip below the $ 10,000 mark, which is quickly returning to the support level, Financial Survivalism, a crypto analyst on Twitter, explains in its tweet that it still believes that Bitcoin will drop to $ 8,775. To close.

Josh Rager, a popular Twitter analyst, also said it was very unlikely that the price of bitcoin would reach $ 8,000. According to him, the prices of the BTC will increase from week to week.

Big Chonis, another popular analyst, said in a tweet that he thought that the current Bitcoin training might indicate that the Bulls are currently trying to reverse the market trend, which could eventually lead to a reversal of the downward trend. recent. He said:

"$ BTC - the current daily" Heikin Ashi "prints a GREEN candle with a stretched body after several successive REDs (...) will monitor to see if #Bitcoin can hold the last closing signal indicating a reversed trend."

If the Bulls are powerful enough to reverse the current Bitcoin trend, it is very important that they should firmly push the price above the $ 12,000 level, as a rapid rejection at this level could lead to a trend towards the decline of the cryptocurrency market for the market. together 2019.
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