Analyst: Bottomed Bitcoin Will Rally To $8,000, Not Collapse To $3,000

Since Bitcoin (BTC) surmounted $5,000 last week, the cryptocurrency market has slowed, expressing signs of indecisiveness at every turn. However, technicians and chartists have begun to agree that a case for a further rally to the upside is growing, as bulls have yet to abate, and bears are losing grip on a market they controlled for over a year.

Related Reading: Crypto Market Surges Again: Bitcoin and Other Assets Having Another Green Day

Crypto Bulls Return En-Masse

For some reason or another, recent happenings in the crypto market have sparked an influx of buoyant sentiment. Maybe it was the fact that BTC easily surmounted its 200-day moving average (MA). Maybe it was the crossover in the 20-day and 200-day moving averages. Maybe it was the fact that the one-day Super Guppy, a technical measure used to indicate overarching trends, flipped green for the first time in 16 months — you get the point.

Crypto Thies, a prominent analyst, looked to further this trend of cheery…

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2019-04-17 12:00:16

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