The world’s most potent digital coin, Bitcoin has experienced a vigorous rally in 2019, but the latest surge in price is struggling to regain the power. Despite the obvious Bitcoin setbacks, some crypto fanatics still remain upbeat while others Bitcoin analysts see the potential of a deeper retracement.
Currently, the Bitcoin price is floating around the big psychological number $10,000 and the sentiment remains uncertain until a clear breakout is in the cards.
While no one can guarantee they have a crystal ball, these are some well-thought analysis that tries to give us a possible framework. For example, popular crypto analyst LisaNEdwards distinguishes herself from the crowd by sharing with her TradingView followers a very unique Bitcoin forecast that sees the price of the world’s largest cryptocurrency trapped in a trading consolidation.
On the other hand, long-time TradingView contributor KailCrypto remains an incurable perma-bull, while crypto pundit yankecwby sees trouble ahead for the Bitcoin bulls.
Moving forward, we’re going to have an in-depth look at how these three analysts frame Bitcoin price.
LisaNEdwards — The Complete Mind F%$K Pattern
Veteran analyst and Bitcoin Contributor @LisaNEdwards is confident enough that BTCUSD is in the process of developing “weeks and weeks of sideways forever and ever.” That’s a strong statement that is only used to emphasize the potency of the pattern she shared with her big following-base.
The consolidation highlighted on her chart suggests that the ranging activity will carry on all the summer and going into mid-October when a possible breakout is expected.
According to her technical analysis skills, BTC/USD can develop some sort of a descending triangle pattern. She also employs Elliott Wave analysis to gauge the price action inside this possible triangle chart pattern.
LisaNEdwards is well-known in the crypto community for proving accurate market forecasts. The majority of her latest Bitcoin predictions were proven to be right.
Our next crypto analyst shares the most optimistic Bitcoin forecast.
KailCrypto — This is the Beginning of a Bull Run to $30k
Reputable analyst @GerardWalker5 shared with his followers, in his latest forecast, a very ambitious target for the price of Bitcoin. He brings several conclusive arguments to support his forecast and we can’t refute them.
Firstly, he makes a comparison between all the previous bullish cycles which experience a normal 38%-50% correction. This crypto enthusiast shared three important support levels to watch and expect the current correction to end. He suggests keeping an eye on the $8,000 — $8,500 zone and $7,800 — $7,000, which align perfectly with the 0.5 and 0.618 Fibonacci levels to provide us more confluence.
Secondly, KailCrypto is also a versatile Elliott Wave practitioner. His Elliott Wave count is very clear to follow and it highlights the second-degree counts as well. He also recommended his followers to go long using a stop loss below $5,500 with a short-term target at $17k.
Looking over his past Bitcoin forecasts, it appears KailCrypto is a reputable analyst with a good track record having been able to correctly forecast the price of Bitcoin three times out of last five attempts.
Next analyst sees some troubles ahead for the bulls.
yankecwby — What’s the beef?
In his latest Bitcoin forecast, crypto enthusiast @Yankecwby shared a very basic yet very powerful chart that suggests the bulls need to conquer several resistance levels to gain control of the market. He simply uses the Fibonacci Fan levels to pinpoint what lies ahead for Bitcoin price.
We decided to include yankecwby’s Bitcoin forecast because his track record shows his ability to correctly predict the future.
Thank you for reading!