A popular crypto trader and technical analyst has made a bullish prediction about Bitcoin (BTC). Mitoshi Kaku claims that a surge to $5000 within the next 10 days would not be surprising.
After months of gradual decline, the last few days have seen a slight change in Bitcoin (BTC) and the crypto market's fortunes. Big 24h gains have pushed the BTC price back to roughly where it was a month ago, but Kaku believes that this $3,655 level could be the springboard for a major BTC rally.
I wouldn't be surprise at ALL, if the price goes straight to $5K in the next 10 days. The conditions are present TA-wise. Obviously that sort of move would need a strong catalyzer, but anything is possible when it comes to price action. $BTC pic.twitter.com/Usdpub8LNj— Mitoshi Kaku 👨🏻🚀 (@CryptoSays) February 9, 2019
Kaku's claim comes from a purely technical analysis of the BTC price movements that we've seen. As many resistances were touched on the way down, this could set up a reversal of the pattern, with a return to $5000 possible once momentum is built. Some kind of positive fundamental would likely be required as a catalyst for this surge.
I don't think it is going to go there right now, just that I wouldn't be surprised, I don't think the psychological conditions are ready for that, but TA-wise like I said, it is totally possible, basically many resistances were already touched several times on the way down.— Mitoshi Kaku 👨🏻🚀 (@CryptoSays) February 10, 2019
Observers responded positively to this predicition, although not everyone was convinced by Kaku's claims. Most believed that BTC gains were likely to continue, but that the $5000 level was maybe a little too ambitious.
Been saying $5k for weeks.— Anton Pagi (@AntonPagi) February 9, 2019
Next logical stop before one last rug pull
The full moon in Feb looks good, as do a few other aspects, could gather a little momentum toward the end of the month, but I'd pleasantly surprised if it breaks 4300— CryptoDamus (@AstroCrytpoGuru) February 10, 2019