Onínọmbà Iye BTC: Apẹẹrẹ Tuntun farahan Jẹrisi Wiwa $ 12,000

Azeez Mustapha

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Based on historic occurrences, we are now in Bitcoin’s worst month. Most times, the price of Bitcoin tends to drop significantly in August.

However, a bullish reversal pattern appears to be in play and could send BTC to the $12,000 level once again in the near-term. The aforementioned pattern is usually initiated by Whale traders trying to manipulate weak traders to disembark, before pushing the price to its former high. They incite panic among small traders by causing the price to approach their stop losses. As a result of the panic, a selling spree is triggered, giving Whales enough liquidity to buy back BTC at a cheaper price than before.

It is an old tactic and it works effortlessly as most traders are inexperienced and will flee at the first sight of danger (emotional).

BTCUSD - apẹrẹ 2-Aago

In the 4-hour chart above from May last year, we can see the emergence and completion of this retrace pattern.

That said, we’ll be expecting to see a replication of the above pattern in the coming days, which will drive BTC price to $12,000, roughly 7% from the current price.

BTCUSD - apẹrẹ 4-Aago

Awọn ipele idiyele Bitcoin lati Wo

If the perceived pattern plays out adequately, we should be seeing the $12,000 price tag soon. However, a sideways consolidation will likely ensue after this for a while before bulls push the price to the next resistance.

Once the $12,000 level is cleared, the next hurdle will be the strong $12,350 line. Breaking above this level would open Bitcoin up to further record highs.

On the flip side, a drop from the $12,000 line would be immediately met with the $11,000 psychological level. Subsequent declines will be immediately supported by $10,800 and then the strong $10,500 support.

Lapapọ Olu ọja: $ 343.3 bilionu

Bitcoin Market Capital: $ 207 bilionu

Ijọba Bitcoin: 60.3%

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Azeez Mustapha

Azeez Mustapha jẹ alamọja iṣowo, oluyanju owo, olufihan awọn ifihan agbara, ati oluṣakoso owo pẹlu ọdun mẹwa ti iriri laarin aaye owo. Gẹgẹbi Blogger ati onkọwe iṣuna, o ṣe iranlọwọ fun awọn oludokoowo ni oye awọn imọran eto inọnwo ti ilọsiwaju, mu awọn ọgbọn idoko -owo wọn dara si, ati kọ ẹkọ bi o ṣe le ṣakoso owo wọn.

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