BTC Rises to $ 48,000 This Year, TradingView Forecast

The consolidation of Bitcoin from $6800 after the outbreak of the conflict between the US and Iran has led many supporters of the maincryptocurrencies to some euphoria. Analysts already predict long-term and short-term goals for Bitcoin, probably relying on current positive growth.

Bitcoin's rally over the past four days can be called tremendous, as the coin has already broken through the $8,000 mark.

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TradingView analyst Alanmasters saidThe main cryptocurrency can reach $ 48,000 in 2020. This conclusion is based on the historical behavior of the coin and observations of the EMA indicator (exponential moving average).

Alanmasters says Bitcoin has conquered EMA100back in April 2019, and a strong bull run followed. Bitcoin maintained this pace until June &#8212; July 2019, and then rolled back and tested all the conquered levels as support.

Alanmasters says that reboundsBitcoins occur every time when the next level of support on the schedule is lower. According to him, at the end of July, the price of bitcoin in the same way rebounded from a minimum of $ 9500 to $ 11700 and then broke through EMA10.

Similarly, after breaking through the EMA50 level at the end of September, in October, another rebound in the price of bitcoin was observed.

Alanmasters believes that now that the price has broken through the EMA100, we should expect a rebound from the bottom. According to him, such a scenario unfolds constantly.

Intersection of EMA10 and EMA50

Judging by the intersection of the lines EMA10 and EMA50,Alanmasters concludes that the price of bitcoin made a “bear cross”. According to him, every time such an intersection occurs (a “bear cross”), the price of bitcoin increases significantly.

Judging by historical data, such a jump occurred in November 2014, when bitcoin grew by 72% (from a minimum of $ 275 to a maximum of $ 475).

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Similar jumps were also observed in July 2018 (+ 48%) and in December 2019 (from +31 to + 51%).

“At the time of the“ bear cross ”there was already a minimum, and therefore our minimum falls on the candle of December 16 (if you follow this scenario), which is also a (bull) hammer.”

Alanmasters also indicated long wicks on candlesover the past few weeks, and linked this with the “rejection of sellers,” which in general may indicate an increase in the price of bitcoin. So, according to him, in 2020, the price of bitcoin can reach $ 48,000:

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