CoinNess: BTC’s Next Target May Falls On $11515 – CoinNess.com
Citing the Bitcoin (BTC) analyst released by Jins, the leading, in-house crypto analyst at CoinNess.com, during the continuous rise of BTC, the closing price is about to hit important pressure levels, which is just the bottom of the triangle correction area formed from June to September. Also, it is the closing high of the rebound at the end of October. Therefore, breakthroughs must be vigorous enough in order to continue to expand price increases. It is expected that the volatility of BTC will also intensify, and the target point for BTC’s further rise will be $11,515. If BTC is able to hold the point successfully, it will be relatively easy for the king coin to break through the $ 14,000 mark.
On the daily chart, BTC is running below $9,500, and the highest closing price of this rebound has touched $9,371, indicating the significant increase. Starting from the previous 23.6% Fib at $7,101, BTC has completed a large-scale bottom pattern that spans the recent 4 months. Starting from the bottom, the pressure level of BTC’s further rise appears as the lower limit of the previous triangle correction, which is close to the point corresponding to 38.2% Fib.
Next, investors need to keep a watchful eye on the impacts brought by BTC’s breaking through the $9,500.
Published at Wed, 29 Jan 2020 04:25:55 +0000
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