Bitcoin price follows the BARR (Bump and Run Reversal) pattern, just as it did before the rally began in April last year. Onthis drew the attention of the NewsBTC edition.
In mid-April 2019, a Bitcoin trader under the nickname b.biddles wrote that Bitcoin formed the bottom of BARR “just like in a textbook”, and predicted the start of a bull market.
</p>As a result of the rally, the price of the first cryptocurrency from $ 4,100 soared by the end of June to $ 13,000.
Bitcoin price movement since March 7 this year hasall the signs of the formation of a similar BARR bottom: vertical fall, consolidation, going beyond the trend line and returning to it to test the support level.
Quotes for «digital gold» got upabove $6,000 on Thursday, March 19th. Fundstrat Global Advisors researcher Rob Sluimer believes it will take months for Bitcoin to return to its previous price levels, but renowned trader Ton Weiss believes the $10,000 level is achievable in the near future.
Read this:
Changpeng Zhao: halving bitcoin will lead to higher prices
BITCOIN Warning A duplicate pattern has been detected before the Bitcoin price moves. Someone is manipulating the market, this is proof!
Fundstrat experts predicted a 100% increase in bitcoin prices in 2020
Lower interest rates of banks will provide a rise in the price of bitcoin
WELTRADE company blog | Peter Schiff – Bitcoin's sharp rise at the end of last week was caused by coordinated actions
Peter Schiff considers BTC pump price increase