Crypto Analyst Says Bitcoin Bottom Is In, Calls Run to $8K – BTC, XRP, Ethereum, Litecoin Forecast

By Daily Hodl Staff

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A crypto analyst known in the industry as Crypto Thies says the moving average convergence divergence (MACD) measure is now bullish for Bitcoin.

The lagging indicator is designed to help traders determine if bullish or bearish movement in the price of an asset is getting stronger or weaker. This marks the first time the popular indicator has turned green in more than a year.

Crypto Thies is standing by his prediction that BTC could soon dip back into the $4,300 range, before soaring as high as $8,400 in the “coming weeks”.

In contrast, a number of crypto analysts say the bear market is not over yet, and Bitcoin may again fall to or below its bottom of around $3,200, which BTC hit in December of 2018. Civic CEO Vinny Lingham recently told CNBC’s crypto trader he won’t believe Bitcoin bull run is real until BTC crosses $6,200 and remains there for at least a day or two. Meanwhile, former Wall Street trader and vice president at JPMorgan Chase, Tone Vays, says he still believes Bitcoin could plunge to $3,000 or lower in the months ahead.

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Right now, the crypto market is a sea of green, as Bitcoin flirts with $5,300. According to Coin360, BTC is up 1.19% at $5,285. Ethereum is up 5.59% at $175.20, and XRP is up 1.11% at $0.3385.

Source: Coin360

Technical analysts are divided on Bitcoin’s trajectory in the short term, looking a bit more bullish on Ethereum, XRP and Litecoin.

Bitcoin

FXStreet – BTC/USD poised to short-term correction, $5,300 remains unbroken

Blockonomi – Strong uptrend and bulls aiming for $6,000

Coinspeaker – Stochastic divergence indicates downside move to $4,848

Ethereum

NewsBTC – ETH price hits $175 target, is $182 on the horizon?

Coinspeaker – ETH/USD broke up at $168, targeting $178 price level

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XRP

FXStreet – XRP/USD facing big barrier at $0.3500