Analyst: BTC will bounce to $11.8k and correct, alts will pump for 80 days

23 Jun, 2019 | Updated: 23 Jun, 2019
by Will Heasman
Analyst: BTC will bounce to $11.8k and correct, alts will pump for 80 days

As Bitcoin remains over $10k the various analysts and traders of crypto Twitter are speculating upon the next move. According to one such trader, the crypto markets are set up for a very specific move…

Right now Bitcoin is trading around $10,623, down from yesterdays high of approximately $11,200.

BTC/USD Chart provided by Tradingview 

However, an anonymous tip-off from one crypto analyst suggested that Bitcoin may soon be back above $11k and touching the tip of $12k by the end of today.

According to Crypto_Ed_NL – a well-known crypto trader – the tip-off specifically noted that BTC will be trading at $11.8k today and for the following 2 days before “correcting”; Thereafter Altcoins will allegedly “pump for 80 days.”

While admitting the tip-off was a highly speculative assumption, ED suggested that this “Interesting charting technique” was “damn accurate.”

However, in response to a comment upon the validity of the charting technique, ED relayed that his team still needed to test the theory.

What do you think? Will this theory work out? Or is it a ploy to create FOMO and FUD? Let us know in the comments!

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