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Bitcoin [BTC] Breaks $7500: Will the Price Rise Again After the Weekend Frenzy?

Bitcoin broke up $7500 on Sunday, 12th May 2019 at the Exchanges and OTC markets which confirmed the bull market in Bitcoin. However, Bitcoin saw a big correction of 8.78% as the price from $7520 levels down to $6850-$6875. Nevertheless, it followed the bullish momentum and vertical trendline to trade above $7000 again. The price of Bitcoin at 3: 40 Hours UTC on 13th May 2019 is $7016.

B.Biddles, a trader and chart analysis, who correctly predicted this move, drawing his analogy from a bump and run reversal model of trading, has reaffirmed his ‘bullish’ stands.

BTC/USD 1-Week chart: Bump and Reversal Comparison

Furthermore, He expects a lot of vertical movements in this bull run. He tweeted,

Source Tweet

Peter Brandt, who also called an expected parabolic rise in Bitcoin prices was bullish has as well. Nevertheless, according to his analysis, a close near $7200 market could market the short-term top and extended a line graph below $5000 levels. He tweeted:

A close here (UTC) COULD…

Read Full Story : Coingape

2019-05-13 03:45:04

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