Crypto

Is the price of Bitcoin going to be $ 14,000 or $ 1,700?

Bitcoin has been in the band 7100-7600 since 17th May, 17 days. The number one crypto money has not gone out of the range of 7600-7700 in the last 4 days. Depending on Bitcoin, other crypto-moneys are generally horizontal. Due to the lack of volatility, the transaction volumes also fell in the crypto money markets.

Source: Forbes

Analyst Naeem Aslam, who assessed the recent situation in Bitcoin, summarized the picture on the market for the first time:

"Investors have a meaningful tendency in Bitcoin in search to see. But in the last couple of months, the only thing you can see in Bitcoin price is the horizontal movement and narrow range. We have seen 11784 as the highest level since February 2018 and 5922 as the lowest level. The range from April 6 to today is even narrower: $ 6513 to $ 9795.

The average real range, the five-day exponential, fell to the lowest level of $ 231 this year. Since the beginning of the year, the dominant trend for this has been slanting downward.

Similarly, the 90-day volatility index is almost free-floating. I think this is about to change; because we started to trade in a narrow range that is not normal for the price of Bitcoin, and at the end of that 90-day volatility was considerably reduced.

Aslam says that the price of Bitcoin is trapped in a symmetrical triangle, that it should be approached towards the end of the triangle and that a break should take place.

Aslam says that "bitcoin" it may also be timeless to say that the price base is firmly in place, because we must break the price level of $ 10,000. Given that we have a symmetrical triangle built on a daily timeframe and that we are approaching the end of the capitulation, the upside price may start a new trend towards 13982 dollars, and a downward movement may pull the price towards 1696 dollars. "

Source : Forbes