Bitcoin Reportedly Has To Reach This Specific Level To Flip Bullish Again | CryptoGazette
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The crypto market has been very volatile and this is understandable considering the current geopolitical situation. There are more and more optimistic prediciotns about the price of BTC these days amidst this scenery. Check out the latest reports below.
Bitcoin has to reach this specific level to turn bullish
An important crypto analyst said that Bitcoin (BTC) will spark an immense rally once it goes above a key price area.
Pseudonymous trader Rekt Capital said that the king coin is set to break out once it crosses the $43,000 mark.
At the moment of writing this article, BTC is trading in the red and the king coin is priced at $39,056.
“The most important BTC EMAs [exponential moving averages] and MAs [moving averages] that have historically dictated breakouts are suggesting that the ~$43,100 level is [the] one to break for immense upside.”
The analyst noted that the last time BTC shot past the $43,000 price tag while continuing to maintain its upward momentum, it led to a surge that pushed the king coin to its all-time high set in November 2021.
“BTC has performed upside wicks beyond the $43,100 resistance on a few occasions over the past few weeks. Which is why it’s important that BTC performs a weekly close above this level, just like [previously] in August 2021.”
He also explained the fact that some of BTC’s technical indicators come together in order to signal that BTC could soon surge in price.
Bitcoin is on its way to $100k
The prediction that BTC is on its way to $100k continues to pop up in the crypto space, despite the crises that we’re seeing today in the world.
The latest one comes from Bloomberg’s senior commodity strategist who believes that the Federal Reserve’s planned interest rate hikes could help propel Bitcoin (BTC) to new ATHs. Check out our previous article in order to learn more details about this.
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