Bitcoin price is consolidating well above the US$3,600 level and the upward momentum of BTC is continuing. While some traders prefer to trade on the basis of technical charts, one analyst has said that Bitcoin (BTC) price against the US Dollar may surge as high as US$5,000 level in coming 10 days. His prediction is based upon the development of more bullish technical formations.
Bitcoin Price Currently and Popular Cryptocurrency Trader’s Bullish Prediction
Bitcoin price is consolidating above the US$3,650 level. The upward price movement of Bitcoin against the US Dollar started on Friday. From a level of US$3,400, the price moved up to a high of US$3,700. In the last 24-hours, the BTC price has jumped to a high of US$3,750. It is currently trading at US$3,696.1.
Bitcoin price was moving sideways for the last several weeks. However, the weekends experienced significant volatility. However, this weekend (especially after the fascinating performance on Friday) was less volatile. Analysts believe this signals that Bitcoin price has found stability above the US$3,600 level.
At a time when the cryptocurrency market was comparatively quieter, a popular crypto trader and analyst on Twitter, Mitoshi Kaku, predicted that the BTC price against the US Dollar can surge to the US$5,000 level in the coming 10 days. Kaku said:
“I wouldn’t be surprise at ALL, if the price goes straight to $5K in the next 10 days. The conditions are present TA-wise. Obviously that sort of move would need a strong catalyzer, but anything is possible when it comes to price action.”
He went on to explain his BTC prediction by saying:
“Two options I’m looking at right now in terms of targets or movements. Not touching my longs SL in place. Vigilant of the next few days and the Ichimoku action as they will be important to determine my next steps. Higher prices next week have a high probability.”
BTC Price Prediction: Everyone is not on the Same Page
Though Mitoshi Kaku is highly bullish on Bitcoin price against the US Dollar, another popular crypto analyst on Twitter having account ID UB said that he expects the BTC price against the US Dollar to come down first before entering a long position. He went on to say:
“$BTC – I’ve been flat since my short was stopped out the other day… I’m waiting to see the reaction around the Range Low before deciding my next move… Looking for longs as long as the 1D S & R holds as support (3440 – 3410)”
This weekend was relatively quieter. However, a fresh weekly candle formation can be seen, which may fuel a sharp upward movement of Bitcoin price against the US Dollar in the coming weeks. Another popular cryptocurrency trader on Twitter, Nik Patel has referred to the bullish weekly candle to predict that the BTC/USD price can touch a high of US$6,000. Patel noted:
“We haven’t seen a higher-high on the Weekly in well over a year. This would be lovely.”
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