Knowing the Latest Bitcoin Collapse Analyst Announces New BTC Forecast!

Cryptokoin.com – It’s no secret that Bitcoin hasn’t done well over the past few days and weeks. Since the $ 9,200 summit over the weekend, the cryptocurrency has lost nearly 18%, and since the $ 10,600 peak in February, BTC has lost over 25%. Hundreds of millions of leveraged positions were liquidated during this brutal move. It also has a sad macro look and doesn’t seem to be associated with the Bitcoin stock market.

Some investors and analysts are wondering if BTC can enter a bear market. In fact, an analyst warned of Bitcoin’s potential return to $ 4,000. Despite these fears, many remain optimistic. In fact, an analyst who calls for a return of $ 7,500 in BTC and keeps a great deal of estimation is now expecting a rise above $ 10,000 and recently stated that BTC is in the middle of the bottom.

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1 Bitcoin BTC will rise, according to analyst who knows its drop to $ 7,500

2 Analyst JB, Sorting bullish signals in Bitcoin

3 Related posts:

Bitcoin
BTC will rise, according to analyst who knows its drop to $ 7,500

As BTC fluctuated above $ 9,000 at the end of February, Adaptive Capital (crypto hedge fund) analyst Nik Yaremchuk shared the scenario below, saying that the leading cryptocurrency is expected to retreat to $ 7,500 and drop by 20 percent. Although many stopped following the analyst for making this forecast, the analyst was proved to be right (effectively correct) as BTC reached the $ 7,500 limit today.

I think there will be a sideway here, then we will get another low and then after that we will break $ 8,200. BTW, look at the Wyckoff scenario. Perhaps this will not be a new low, just a sideway.$ BTC pic.twitter.com/eluhtgv6g to

– Nik (@truenomic) March 11, 2020

Nik Yaremchuk estimates that Bitcoin really hit bottom. The analyst estimates that the cryptocurrency created a bottom pattern defined by the work of a technical analyst, Richard Wyckoff, in a tweet at the time of writing this article. The cryptocurrency that follows this scenario will move sideways from here, according to the analyst, will dive shortly to create a new low level of around $ 7,500, and then gather to exit the $ 8,200 backlog.

Analyst JB,
Sorting bullish signals in Bitcoin

This prediction is important because there is a similar Wyckoff Accumulation pattern in December and early January. According to the analyst, this pattern could prepare the ground for a stronger rise in BTC towards $ 8,500. Nik Yaremchuk is not the only leading analyst on the current price of Bitcoin. Analyst JB recently pointed out that technical analysis signs are showing that Bitcoin may see some upturn soon:

The price of the cryptocurrency leapt cleanly from the $ 7,700 key support level, and below that level, a number of wicks pressed, indicating that buying interest remained.
BTC leaped crashing into a volume profile gap.
The “Willy” indicator, which took place near the $ 6,400 level in December last, and before the 40% “Chinese pump” seen in October, was sold.
Bitcoin prints a potential deviation with a daily Moving Average Convergence Deviation (MACD) indicator.

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