Bitcoin Poised To See Another 10% Jump
Crypto Rand, a popular trader that recently had a bit of a run-in with XRP’s fanatics, recently remarked that Bitcoin (BTC) is showing clear signs that a move higher is on the horizon. Rand’s analysis was simple but sound.
Per the chart (seen below), as BTC has stagnated over the past week or so, it has entered a “bullish pennant” pattern, marked by a tightening range and higher lows. If the pennant plays out as technical analysis bibles expect, Bitcoin will soon see a massive breakout higher, potentially “over the $6,000 region” as Rand explains. This is notable, as the analyst somewhat called BTC’s previous breakout past $4,200 earlier this year.
#Bitcoin looking solid here. Bullish pennant on the making. Target over the $6,000 region. pic.twitter.com/3WMFkuKzBN — Crypto Rand (@crypto_rand) April 22, 2019
Rand isn’t the only one sure that $6,000 is inbound. Lisa Edwards, the sister of Bitcoin Satoshi’s Vision (BSV) supporter Craig Wright (yes, the Dr. Craig Wright), recently claimed that Bitcoin’s logarithmic weekly chart is currently expressing “a strong bullish divergence and bull flag.” With this, the analyst determined that a move to $6,250 could come to fruition in the short-term.
$BTC chart inspired by @JacobCanfield LOG SCALE weekly chart. Strong bullish divergence & BULL FLAG formed