• Latest
Why Best Traders Count on Bitcoin to Hit $13,000 Despite Limited-Term Weakness

Why Best Traders Count on Bitcoin to Hit $13,000 Despite Limited-Term Weakness

June 29, 2020
ygg sea surpasses 10,000 scholarships in just six months of launch

YGG SEA Surpasses 10,000 Scholarships in Just Six Months of Launch

May 6, 2022
mintable launches industry changing gas free minting service on ethereum

Mintable Launches Industry Changing Gas Free Minting Service on Ethereum

May 1, 2022
5 projects enabling smart contract development on bitcoin

5 Projects Enabling Smart Contract Development on Bitcoin

April 29, 2022
bitcoin atm installed in mexico's senate building

Bitcoin ATM installed in Mexico’s Senate Building

April 27, 2022
cross chain services play a crucial role in facilitating continued adoption of defi applications

Cross-Chain Services Play a Crucial Role in Facilitating Continued Adoption of DeFi Applications

April 26, 2022
justin sun launches usdd, integrating the blockchain world and the real world with the decentralized stablecoin

Justin Sun Launches USDD, Integrating the Blockchain World and the Real World with the Decentralized Stablecoin

April 25, 2022
nfts: the next musical revolution

NFTs: The Next Musical Revolution

April 24, 2022
things you should know before investing in nfts

Things You Should Know Before Investing in NFTs

April 24, 2022
what are wrapped tokens?

What Are Wrapped Tokens?

April 23, 2022
what is the future of ethereum (eth)?

What is the future of Ethereum (ETH)?

April 22, 2022
green gaming

Everything You Need to Know About Play-to-Earn on Algorand in 2022

April 21, 2022
$ape going bananas as rumors of upcoming land sale of bayc metaverse gather momentum

$APE Going Bananas As Rumors of Upcoming Land Sale of BAYC Metaverse Gather Momentum

April 21, 2022
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
CoinNewsDaily
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
No Result
View All Result
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
No Result
View All Result
CoinNewsDaily
No Result
View All Result
Home Bitcoin

Why Best Traders Count on Bitcoin to Hit $13,000 Despite Limited-Term Weakness

coinnewsdaily by coinnewsdaily
June 29, 2020
in Bitcoin
0
Why Best Traders Count on Bitcoin to Hit $13,000 Despite Limited-Term Weakness
190
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter


Bitcoin appears to be very weak from a small-term perspective.

Immediately after breaking down below $9,000 for a brief period of time before this 7 days, the crypto is the moment once more at chance of breaking beneath the lower boundary of its extensive-held trading vary.

A number of top rated traders, nonetheless, stay firmly bullish on the cryptocurrency’s mid-term selling price motion. Some are even noting that they are anticipating it to see large gains in the times and weeks in advance.

A person these trader discussed that there at this time exists a “massive liquidity pool” all-around $10,500 that could be qualified by bulls in the times and months ahead.

The test of this stage could enable mail the cryptocurrency rocketing higher than the resistance right here, which would open the gates for a shift up to $13,000.

Other analysts agree with this chance, as just one not long ago explained that holding above the $8,800 to $8,900 area over an prolonged period could be all that is desired to drive BTC to $12,000.

Bitcoin’s Small-Time period Weakness Doesn’t Invalidate Very long-Time period Outlook

At the time of creating, Bitcoin is trading down marginally at its recent cost of $9,075.

Previous week, BTC was subjected to some huge turbulence that muddied the clarity traders previously had with regards to the toughness of the cryptocurrency’s mid-phrase uptrend.

Potential buyers ended up able to push it as superior as $9,800 just before it was satisfied with sizeable promoting strain that halted this uptrend. From in this article, it started reeling reduce until eventually it eventually achieved lows of $8,900 just a number of days back.

The higher-$8,000 region has been holding as assistance more than the past few of months, and purchasers need to carry on defending this level for BTC to see any even further upside.

As NewsBTC noted beforehand, a person analyst does feel that a ongoing defense of this important guidance area could be all that is required to spark a motion up to highs of $12,000.

The analyst explained that a protection of this stage would guide BTC up in the direction of $10,000, with the break into the five-figure rate region accelerating this momentum.

“I believe, if we hold $8,800-8,900. From listed here to $9,600 -> then flip $9,300 -> crawling back again up with acceleration earlier mentioned $10,000 and then $11,500-12,000 exam,” he stated.

Here’s Why A person Top Trader is Focusing on $13,000

This analyst isn’t alone in believing that Bitcoin could be properly-positioned to see some main upside in the coming times and months.

An additional well known pseudonymous trader discussed previously right now that a large liquidity pool around $10,500 indicates that a transfer to this vital resistance is imminent. From here, he thinks Bitcoin could then press up to $13,000.

“Macro BTC context: continue to assume we’re heading towards $13K mid phrase. Huge liquidity pool all over 10.5k, cost tends to visit people sooner or afterwards.”

Graphic Courtesy of SalsaTekila. Chart by way of TradingView.
Featured picture from Shutterstock.

Charts from TradingView.



Related articles

5 projects enabling smart contract development on bitcoin

5 Projects Enabling Smart Contract Development on Bitcoin

April 29, 2022
bitcoin atm installed in mexico's senate building

Bitcoin ATM installed in Mexico’s Senate Building

April 27, 2022
Share76Tweet48
Previous Post

Why VCs Are Betting Massive – Cointelegraph Magazine

Next Post

China’s Blockchain Company Community Reportedly Integrating Ethereum

coinnewsdaily

coinnewsdaily

CoinNewsDaily.com is an online Crypto Coin News Website that aims to provide latest trendy news from market and around the world.

Related Posts

5 projects enabling smart contract development on bitcoin
Alt Coin

5 Projects Enabling Smart Contract Development on Bitcoin

April 29, 2022
bitcoin atm installed in mexico's senate building
Bitcoin

Bitcoin ATM installed in Mexico’s Senate Building

April 27, 2022
what are wrapped tokens?
Bitcoin

What Are Wrapped Tokens?

April 23, 2022
btc and eth will break all time highs in 2022 — celsius ceo
Bitcoin

BTC and ETH will break all-time highs in 2022 — Celsius CEO

April 21, 2022
price analysis 4/20: btc, eth, bnb, xrp, sol, ada, luna, avax, doge, dot
Alt Coin

Price analysis 4/20: BTC, ETH, BNB, XRP, SOL, ADA, LUNA, AVAX, DOGE, DOT

April 21, 2022
Bitcoin

Play-to-Earn Bitcoin Games: How Lightning Network Enables Gamers to Earn Sats

April 20, 2022
Load More
Next Post
China’s Blockchain Company Community Reportedly Integrating Ethereum

China’s Blockchain Company Community Reportedly Integrating Ethereum

Categories

  • Alt Coin
  • Bitcoin
  • Business
  • Ethereum
  • ICO
  • Litecoin
  • Mining
  • NFT
  • Ripple
  • Tech
  • Trading

What New here?

  • YGG SEA Surpasses 10,000 Scholarships in Just Six Months of Launch
  • Mintable Launches Industry Changing Gas Free Minting Service on Ethereum
  • 5 Projects Enabling Smart Contract Development on Bitcoin

Subscribe to Get More!

Loading
  • About Us
  • Contact Us
  • Privacy & Policy

© 2018-2021 CoinNewsDaily.com by CoinNewsDaily Inc. Crafted with Love by iFtiDev

No Result
View All Result
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining

© 2018-2021 CoinNewsDaily.com by CoinNewsDaily Inc. Crafted with Love by iFtiDev

  • bitcoinBitcoin(BTC)$23,106.001.26%
  • ethereumEthereum(ETH)$1,580.660.83%
  • tetherTether(USDT)$1.00-0.09%
  • binancecoinBNB(BNB)$309.95-0.14%
  • rippleXRP(XRP)$0.4018982.41%
  • cardanoCardano(ADA)$0.3847183.70%
  • dogecoinDogecoin(DOGE)$0.092745-0.49%
  • matic-networkPolygon(MATIC)$1.101.29%
  • okbOKB(OKB)$37.50-0.17%
  • solanaSolana(SOL)$23.66-0.95%
  • polkadotPolkadot(DOT)$6.220.26%
  • litecoinLitecoin(LTC)$96.982.80%
  • shiba-inuShiba Inu(SHIB)$0.000012-0.45%
  • tronTRON(TRX)$0.062220-1.32%
  • daiDai(DAI)$1.00-0.05%
  • cosmosCosmos Hub(ATOM)$13.593.03%
  • chainlinkChainlink(LINK)$6.88-1.02%
  • leo-tokenLEO Token(LEO)$3.601.14%
  • moneroMonero(XMR)$175.131.33%
  • ethereum-classicEthereum Classic(ETC)$21.440.17%
  • bitcoin-cashBitcoin Cash(BCH)$133.05-0.36%
  • stellarStellar(XLM)$0.090055-0.34%
  • crypto-com-chainCronos(CRO)$0.0787821.39%
  • filecoinFilecoin(FIL)$5.181.83%
  • algorandAlgorand(ALGO)$0.2388690.07%
  • internet-computerInternet Computer(ICP)$5.903.52%
  • vechainVeChain(VET)$0.022898-1.16%
  • aaveAave(AAVE)$81.631.23%
  • eosEOS(EOS)$1.050.23%
  • elrond-erd-2MultiversX(EGLD)$42.300.03%
  • theta-tokenTheta Network(THETA)$1.01-0.64%
  • tezosTezos(XTZ)$1.06-1.04%
  • paxos-standardPax Dollar(USDP)$1.000.01%
  • huobi-tokenHuobi(HT)$5.171.34%
  • bitcoin-cash-svBitcoin SV(BSV)$42.490.08%
  • havvenSynthetix Network(SNX)$2.311.14%
  • dashDash(DASH)$60.75-0.17%
  • pancakeswap-tokenPancakeSwap(CAKE)$4.00-0.05%
  • iotaIOTA(MIOTA)$0.2249680.21%
  • makerMaker(MKR)$650.352.02%
  • zcashZcash(ZEC)$44.750.29%
  • neoNEO(NEO)$8.090.24%
  • zilliqaZilliqa(ZIL)$0.0268781.26%
  • basic-attention-tokenBasic Attention(BAT)$0.2518862.19%
  • compound-governance-tokenCompound(COMP)$51.92-1.15%
  • Elrond ERDElrond ERD(ERD)$0.0259290.00%
  • nemNEM(XEM)$0.0369051.28%
  • kusamaKusama(KSM)$35.441.65%
  • bitcoin-goldBitcoin Gold(BTG)$16.370.48%
  • qtumQtum(QTUM)$2.640.05%
  • ftx-tokenFTX(FTT)$1.89-21.50%
  • wavesWaves(WAVES)$2.490.46%
  • sushiSushi(SUSHI)$1.261.11%
  • yearn-financeyearn.finance(YFI)$7,249.190.49%
  • golemGolem(GLM)$0.2305460.50%
  • omisegoOMG Network(OMG)$1.390.23%
  • ontologyOntology(ONT)$0.204664-1.50%
  • digibyteDigiByte(DGB)$0.0104451.14%
  • umaUMA(UMA)$2.01-0.08%
  • ethlendAave [OLD](LEND)$0.53-3.08%
  • UniswapUniswap(UNI)$2.4438.80%