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Bitcoin Technical Analysis : Market Experts bullish on Bitcoin, predict Major gains

According to AsiaCryptoToday, Arlington, a big fan of the Ripple XRP token, is impressed by the significant investments in the cryptocurrency industry. Huge investments like this show confidence in the future of cryptocurrency, which is a key factor for long and short-term crypto-currency price movements.

In addition, despite the recent market crash, confidence in the future of bitcoin is a pledge of confidence for bitcoin critics who say it will not last long after the bubble burst. Cryptocurrency speculation about big companies like Facebook, Starbucks and Rakuten are also supporting.

Bitcoin Technical Analysis

Levels of resistance: $ 7,200, $ 7,400, $ 7,600

Levels of Support: $ 5,100, $ 4,900, $ 4,700

The BTC / USD pair is in an uptrend zone but is trading in a narrow range. On April 2, the price of Bitcoin was rising. On April 10, the BTC price peaked at $ 5,488 but closed at a price of $ 5,310.10. Since April 16, the price of BTC is now in a narrow range of $ 5,000 to $ 5,300. The bulls failed to break the $ 5,300 resistance level in the last two weeks. In addition, the bulls have also defended the $ 5,000 level of support over the last two weeks. Since April 2, the price of BTC was up, trading at $ 5,325.10 US so far.

The price of the BTC is expected to exceed the resistance level of US $ 5,300, so the price of crypto will reach the previous levels of US $ 5,500 and the US $ 6,000. If buyers fail to break through the $ 5,300 resistance level, the price of crypto will drop to resume its range movement.

Meanwhile, the MACD line and the signal line are above the zero lines, indicating a buy signal. The price of crypto is higher than the 12-day EMA and the 26-day EMA, indicating that the price is likely to increase.

Bitcoin price today – BTC in USD

At the time of writing, the BTC to USD ratio is $5,347.74. The price of the BTC is 1.49% higher than that negotiated at the same time yesterday.

Bitcoin Experts Bullish Prediction

Alistair Milne, director of investment in a sector investment company, said in a tweet yesterday that he had observed a positive trend among experienced cryptocurrency traders.

He wrote

“PRETTY MUCH EVERY OG BITCOIN TRADER THAT HE RESPECTS IS NOW LEANING BULLISH.”

“Bitcoin OG traders”, as used by cryptocurrency fans, refer to experienced and hardcore bitcoin traders. OG is a slang that means exceptional, authentic or old school.

The forecast for bitcoin prices for 2019 has taken a strange but pleasant turn in the last two days. Bitcoin bulls do not just spend the day; it seems that all the personalities of the cryptosphere announce an imminent rise in the price of bitcoin (BTC). But Milne is not the only person who thinks BTC is optimistic.

TechCrunch founder Michael Arlington is another optimist. He reiterated his position in the cryptocurrency market. He said;

“[I HAVE] NEVER BEEN MORE BULLISH ON CRYPTOCURRENCIES THAN RIGHT NOW,”

Everyone is bullish

Yet another popular crypto trader analyst, The Crypto Dog, writes:

”LITERALLY EVERYONE IS BULLISH. LIKE EVERYONE. NOT IN THE USUAL ‘HAHA EVERYONE’S BULLISH LET’S SHORT’ WAY. EVERYONE IS BULLISH.”

It seems that these Bitcoin analysts know something that makes them so certain that the price of bitcoin will very soon increase. While all that has made everyone optimistic about bitcoin is not very clear, here are some pointers to help you better understand why the price of bitcoin is about to skyrocket soon.

About Steve Anderrson

Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain. Join the official channel of thecoinrepublic, For the latest news updates: https://t.me/thecoinrepublic

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