'Bitcoin might continue to surge towards $7,200', says analyst

09 May, 2019
by Joeri Cant
'Bitcoin might continue to surge towards $7,200', says analyst

Trading Room, a popular cryptocurrency analyst, took to Twitter to explain why he thinks Bitcoin might surge towards the $7,200 price mark in the near-future.

Now that the world's number one cryptocurrency finally broke through $6,000 today, many analysts are extending their bullishness over a longer time frame.

One such analyst is the Geneva-based crypto trader, who goes by the Twitter handle Trading Room.

The popular cryptocurrency analyst, with almost 70K Twitter followers, explained in a tweet, that Bulls needed to break 100 Week MA, adding that a failure to breach the 100 Week MA would result in a failed rally and a possible pullback.

However, if broken on the upside, we might be looking at a price surge towards the $6700-$7200 zone.

Since the beginning of 2019 Bitcoin has been on a tear. BTC's price soared almost 20% in just one day to reach $5,000 on April 2nd and has drifted steadily upward towards the $6,000 price mark, which it hit just a few hours ago.

The one question everybody is asking themselves is where Bitcoin's price goes from here.

The entire crypto community is now eagerly hoping that the price increases of recent weeks are the beginning of a new major Bitcoin boom that will drive BTC to unseen new all-time-highs.

Bitcoin 'megamonsoon' here we come.

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Read more about: Bitcoin (BTC)


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