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Top Analyst Predicts Bitcoin (BTC) Mania in June, Sparking Fast and Volatile Push to All-Time High

by Daily Hodl Staff
May 12, 2020
in Bitcoin, Trading
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A prominent crypto strategist who accurately called the bottom after the coronavirus-induced sell-off in March says he’s long-term bullish on Bitcoin, but not before the world’s leading cryptocurrency whipsaws traders.

In a tweetstorm, pseudonymous trader Bitcoin Jack says that he expects volatility to reign for the rest of the month before Bitcoin accelerates in June.

“Key requirements in May for my thesis: decent buy pressure this week with resistance between $10,500 to $11,000, sell-off into strong support at $9,000 – $9,500 that holds.

That would complete a running flat. If so, it is a recipe for an end of May / June rally.”

Should Bitcoin follow the script, the crypto analyst says BTC will begin to rise next month in a rally that ignites FOMO, mania and media attention en route to $15,000.

After the rally, Jack expects the top cryptocurrency to correct and form a base which would set the stage for a massive bull run to $20,000.

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“I expect support ($9,000 – $11,000) to form by August. If my earlier thesis is correct, we should then rally towards previous ATH by Dec/Jan.”

On March 13th of this year, when the leading cryptocurrency plunged to $3,850 in a widespread market sell-off, Bitcoin Jack said that Bitcoin had bottomed out. The prediction turned out to be on target with March 13th marking a yearly low. Bitcoin is now trading at $8,666, up more than 125% since the call.

$BTC Bottom Edition

Look at it this way

We just had the whole echo pump and echo dump of 2017 top to bottom to 14k top

-72% from 14k top and >84% of the 3-14K move retrace

On a weekly orderblock EQ support

For obvious reasons I call this chart: "The BOTTOM" https://t.co/jtoOumaKnt pic.twitter.com/ujmwohkmf6

— //Bitcoin ?ack ? (@BTC_JackSparrow) March 13, 2020

 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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