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Can Bitcoin overcome the $ 4,200 resistance level? Forecasts of analysts



Although over the past 10 days Bitcoin (BTC) has been trading in a stable range from $ 4,000 to $ 4,100, some analysts say there are two ways for it – $ 5,500 or $ 3,000.

According to CoinMarketCap at the time of the preparation of this post, the main cryptocurrency was trading at $ 4,036 (+ 0.38%).

Most analysts and traders are now looking with hope at the upper limit of the current trading range – a price tag of $ 4,200, which is likely to become a new level of serious resistance.

Nevertheless, Crypto Krillin, a Swiss cryptanalyst, declares that the moment of truth is very close – Bitcoin will either fly straight to the $ 5,500 mark, or we will return to $ 3,000:

It seems that Crypto Krillin is not the only one who is convinced that from now on, the target of Bitcoin growth can be $ 5,500.

Just a few days ago, Galaxy, another popular cryptocurrency analyst on Twitter, explained to its subscribers that Bitcoin has a promising potential:

“According to the theory of Bulkovsky, more than 60% of the ascending triangles with a decreasing trading volume ultimately make the upper breakthrough with an average price increase of 35%. If such a breakthrough is confirmed, it will give us a target of $ 5,500. "

Despite the fact that many analysts are optimistic in their views on the “upper breakthrough” of Bitcoin in the near future, another recognized trader, The Crypto Dog, recently said that in the short term, Bitcoin could still drop to $ 3,500.

According to technical cryptanalyst DonAlt, cryptozyme will not end until Bitcoin reaches a threshold of $ 4600 and starts moving to $ 5000 and $ 6000:

“Trading volume can hardly convince me that the bear market is over. Only a bull market structure and a breakthrough level of $ 4,600. It is interesting that there were many altcoin pamps, while the total market capitalization has not changed much. This suggests that very little new money comes to the market. ”

Publication date 03/03/2019
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