BITCOIN: 100,000 USD - Dream or imminent reality?
Analysis firm Cryptoquant around Ki Young Ju sees the current price level as an entry area for institutional traders. In doing so, his assumption coincides with that of Bloomberg analyst Mike McGlone of an imminent bottoming out followed by a rally to potentially USD 100,000.
If the demand for large companies to invest in Bitcoin is currently increasing, but the supply of liquid coins is decreasing at the same time, a long-term strong rise in the mother of all cryptocurrencies would only be consistent.
Current analysis on Bitcoin BTC/USD
With a retest of the support at around USD 47,000, a very powerful and solid bottom formation occurred, which made the springboard for further rising prices likely.
The directional filters relevant to the market are also long on Bitcoin, which further underpins the current positive environment.
Within the distribution zone at just under USD 51,000, initial profit-taking and a temporary decline must be expected. From a statistical point of view, discounts to the area of about 49,000 USD are possible. If this zone is overcome, a further price increase to USD 56,000 can be expected for the time being.
However, if USD 47,000 is broken, the current environment would become increasingly gloomy, which should lead to selling pressure and a decline to USD 44,000 for the time being.
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Notice:
Despite careful analysis, Global Investa does not guarantee the content, timeliness, accuracy or completeness of the information provided. In particular, the information provided does not constitute investment advice, a purchase recommendation or investment brokerage and can in no way substitute for investor- and investment-appropriate advice from a professional investment advisor who takes into account the customer's individual economic circumstances and level of experience.
If the demand for large companies to invest in Bitcoin is currently increasing, but the supply of liquid coins is decreasing at the same time, a long-term strong rise in the mother of all cryptocurrencies would only be consistent.
Current analysis on Bitcoin BTC/USD
With a retest of the support at around USD 47,000, a very powerful and solid bottom formation occurred, which made the springboard for further rising prices likely.
The directional filters relevant to the market are also long on Bitcoin, which further underpins the current positive environment.
Within the distribution zone at just under USD 51,000, initial profit-taking and a temporary decline must be expected. From a statistical point of view, discounts to the area of about 49,000 USD are possible. If this zone is overcome, a further price increase to USD 56,000 can be expected for the time being.
However, if USD 47,000 is broken, the current environment would become increasingly gloomy, which should lead to selling pressure and a decline to USD 44,000 for the time being.
If you liked the analysis, we would be pleased about a Like or subscription. You support our work thereby enormously!
Notice:
Despite careful analysis, Global Investa does not guarantee the content, timeliness, accuracy or completeness of the information provided. In particular, the information provided does not constitute investment advice, a purchase recommendation or investment brokerage and can in no way substitute for investor- and investment-appropriate advice from a professional investment advisor who takes into account the customer's individual economic circumstances and level of experience.
Comment:
The price target has already been exceeded! Congratulations to our readers!
