The encryption analyst says that the Bitcoin Top has not yet exploded – what do you know
The cause of confidence
The strict editorial policy that focuses on accuracy, importance and impartiality
It was created by industry experts and carefully review
The highest standards in reports and publishing
The strict editorial policy that focuses on accuracy, importance and impartiality
Morbi Pretium Leo Et Nisl Aliguam Mollis. Quisque Arcu Lorem, Quis Quis Pellentesque NEC, ULLAMCORPER EU ODIO.
The story was somewhat the same for Bitcoin during the past week, as it was swept away by more than its highest level ever at $ 111,814. On Friday, June 6, the first cryptocurrency fell towards the level of 101,000 dollars, which reflects a rise in market fluctuations during the past few days.
While the price of bitcoin has quickly recovered from this sudden stagnation, there is still a real concern about the market leader’s performance since reaching his standard value. However, a new indicator indicates that the BTC price may still have some time to move to the highest new level.
The analyst predicts four months of BTC opportunities
In a recent post on the X platform, Crypto Joao Wedson expert open There may be still a degree of opportunities in the Bitcoin market. This observation depends on a model, which was accurate in predicting high prices ever for the largest encrypted currency in the world through the market value.
Related reading
This revelation depends on the SMA MAX Interest model, which is precisely defined by the tops of the previous bitcoin cycles. According to Wedson’s Post, the forecast model at the top of the cycle indicates that the price of BTC still can have about four months of bullish growth capabilities – regardless of fluctuations and market heating.
As shown in the graph above, the price of Bitcoin reaches the peak of the current cycle when the SMA (a simple moving average) intersects to the top of the previous cycle. In the 2021 session, the highest -higher prediction model for the year 2018 was about $ 19,000 in November 2021, and its climax reached the highest level at a time of $ 69,000.
Thus, when this maximum SMA intersects completely 69,000 dollars – the highest price in the last session, it represents the peak of this current cycle. Weeson also emphasized that this model is somewhat reliable, as it is supported by 200 tested algorithms.
With this higher prediction model, 69,000 dollars remain, Bitcoin price may still be a few months away from its peak.
Bitcoin price at a glance
As we mentioned earlier, it seems that the BTC price is struggling after it recently reached its highest level ever above the sign of $ 110,000. The performance of this week must have tested the patience of the investors as the leading cryptocurrency has been traded mostly in the scope of unification.
Related reading
According to data from Coingecko, the BTC price has increased by only 0.2 % in the past seven days. From writing these lines, bitcoin value is estimated at about 104,400 dollars, which reflects an increase in prices by more than 2 % over the past 24 hours.
Distinctive image from Istock, tradingvief chart
