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Crypto analysts are plotting the short and long-term paths ahead for Bitcoin.
Josh Rager says a look at BTC’s past bull runs shows that historically, each new rally has brought about a 20% return of the previous cycle. If that math holds up, he says Bitcoin will hit about $78,000 by 2022.
https://twitter.com/Josh_Rager/status/1128335076083761152
In the short term, analysts DonAlt and The Crypto Dog told their collective audience of about 248,000 followers on Twitter that they believe Bitcoin is facing resistance at around the $9,550 mark.
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Fellow analyst Galaxy told his crew of 53,000 followers that he thinks Bitcoin is due for a correction before it can move higher.
$BTC weekly update:
Strong weekly close engulfing the price action of last week.
The only two significant resistances left are ~9500 and ~11500.
A potential buy the dip area is ~8000.
Loads of support below.Next support: 8000-8400
Next resistance: 9350-9550 pic.twitter.com/zJtfyoun2F— DonAlt (@CryptoDonAlt) June 17, 2019
[tweet 1140383488085880832 hide_thread=’true’]
Right now, Bitcoin is up 2.08% at $9,269 according to COIN360. Ethereum is up 1.14% at $272.46, XRP is up 0.47% at $0.4288 and Litecoin is down 1.36% at $133.61.
Meanwhile, technical analysts at large are reading the tea leaves on the overall crypto market after Bitcoin’s big weekend.
Bitcoin
FXStreet – BTC/USD jumps above the short-term trendline and $9,300 hurdle
Bitcoinist – If battered bears re-emerge, major line of support may be $7000
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Ethereum
Blockonomi – Uptrend gaining pace towards $285 and $300
NewsBTC – Price remains in uptrend, break above $280 likely
XRP
FXStreet – XRP/USD hovers around $0.4300 after sharp weekend growth
Blockonomi – Technical indicators suggest bullish continuation
Litecoin
Ethereum World News – Litecoin bulls preparing for next wave
Blockonomi – Price needs to hold above $134.60 before another rise
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