Bitcoin's next move according to analysts and traders; $6k inbound?

22 Apr, 2019 | Updated: 22 Apr, 2019
by Will Heasman
Price Analysis
Bitcoin's next move according to analysts and traders; $6k inbound?

 Once again Bitcoin looks primed to retest key levels of resistance, but then what? Heres a round up of the various opinions from the analysts of crypto Twitter.

Our first Analyst, Alex Kruger, tears the band aid straight off, offering the “maximum pain” scenario for BTC in the short term. Kruger suggests that a path through $6k could result in a hefty correction to $4k with longterm bulls getting rekt in the process:

So how would we pass above $6K? with a golden cross of course…

For the past week, talk of a golden cross has been spreading feverishly among crypto aficionados, and according to a few on crypto twitter, one of the ultimate catalyst may have just occurred:

A golden cross is a technical chart pattern in which a short term moving average (MA) crosses above its long term MA. Typically, this event is indicative of a major price hike.

The occurrence of this may well lead BTC to further gains, however, not everyone is convinced they'll keep.

One trader suggested yesterday that an ascending triangle formation could bring BTC up to $6k, but today saw BTC fail to break out, something which could potentially mean some pain to come.

However, this recent rejection may not be the end for BTC. According to Rekt Capital BTC is on a path to a higher level, supported simply by the psychological level of $5k

So it seems to be a mixed verdict, however, the arrival of a golden cross and the sentiment surrounding that indicator could give BTC  the push it needs to finally break through resistance and climb above $6k. however, whether or not the #1 can hold that level is anyone's guess… 

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