Crypto

Bitcoin Price Prediction: Is the Real Bull Run Beginning Now? | Cryptocurrency

  • The price of bitcoin makes an impressive fake, climbing 18% in two days.
  • The 1-2-1-2 wave pattern could warrant a steep slope towards $28,000 over the next few days. A bullish option should not be completely ruled out.
  • The invalidation of the uptrend is one break below $20,690.

The price of bitcoin has shown an impressive rebound after the long-awaited decision by the Fed. More upside potential is possible, but risk reduction should be a priority during an uptrend.

Bitcoin Price Shocking the World?

The price of bitcoin is up almost 18% from the July 26 low of $20,690. The peer-to-peer digital currency is on a steep slope, aiming for new monthly highs of $24,130. Ending the uptrend will be difficult as the rally does not look like a clear impulse wave from the July 13 lows at $18,900. However, Elliott Wave Theory has shown in the past that choppy 1-2 1-2 patterns can cause traders to crash.

BTC/USDT 8 hour chart

The price of bitcoin can still rise to $30,000. The bullish scenario is an unfavorable narrative based on unclear technical data, but is still a strong case for retrospective explanation of the future lunar pulse wave. Don’t sleep on the price of bitcoin. It can still rise higher in case of erratic behaviour. The first targets are in the middle zone of $28,000.

For traders willing to take the risk, the deal is justified. If this is the beginning of wave 3, the price of BTC should under no circumstances rise above $20,690. If it exceeds $20,690, the price of BTC will fall to $16,200, which will reduce the current market value by 30%.

In the following video, our analysts dig deeper into Bitcoin’s price behavior by analyzing key levels of interest in the market. -Team Netcost-Security

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