Analysts put on the growth of the BTC before halving

The Bitcoin rate will rise to $18,000 by May, a Polar Hunt trader suggested. On his Twitter account he posteda chart of the first cryptocurrency, which showed that its price has behaved the same over the past twelve months, as it was in 2016.

If the pattern noticed by the user remains in force, the coin may rise in price by more than 100% by the upcoming halving, reports RBC Crypto.

The analyst is also confident that the value of Bitcoin will riseCoindesk portal Omkar Godbole. According to him, the coin may soon rise in price to the resistance level of $9,500, expressed by the “right shoulder” of the head and shoulders figure. If the asset price overcomes this value, it will continue to move towards $10,500, the expert suggested.

This is also holding up nicely and shows how this particular part of the marketcycle is «sideways» and therefor both hard to buy and hard to hold.

Im writing these posts to show you, but also to remind my self not sell any. I actually added to my stack this Friday. pic.twitter.com/VIG2a6OZ8q

- Polar Hunt (@polar_hunt) March 1, 2020

He explained that in favor of cryptocurrency price hikessays the appearance of a Doji candle on his chart. She reports the depletion of the seller’s strength, which means a decrease in volumes for the sale of coins, said Godbowl.

He added that the cost drop scenarioBitcoin cannot be denied. If the coin falls below the Saturday low of $ 8411, it is likely that it will continue to decline first to $ 8213, and then to $ 8000, the analyst predicted.

Analyst expects Bitcoin price to fallportal Cryptopotato Yuval Gov. He reported that a bearish triangle had formed on the 4-hour chart with a lower boundary of $8,500. If the coin’s rate falls below this level, it will continue to decline to the support line of $8,000, expressed by the Fibonacci retracement level of 0.618, the expert believes.

He noted that the downward price movementcryptocurrencies will slow down at around $ 8,300. There is a 100-day moving average, said Gov. The resistance to the price of $ 8750, expressed by the 200-day moving average, and the psychological level of $ 9000 will hinder the price increase of the coin, the analyst emphasized.

At the moment, bitcoin is trading at around $ 8,800, in 24 hours it has risen in price by 3%. The daily coin trading volume grew by 8%, to $ 40 billion.

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