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Home Altcoins

Bitcoin Might Rise By 6787% As Signs Play In For Golden Cross Above Resistance

by Khalid Lawal
November 26, 2019
in Altcoins, Cryptocurrency, Price Analysis
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Is Bitcoin Staging a Comeback? Here are Opinions from Experts
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Ever since Bitcoin (BTC) tested the $5,400 resistance level, the bear has taken its price down, and the 30 days market chart revealed that BTC has been stalemating between a band price of $5,100 and $5,300 with no sign  of a breakout.

Investors and market experts, nevertheless, have been at vigil for a caption of mechanical trend that would bring gestures of crypto bull above the historical resistance.

However, Bitcoin and some other altcoins in the market have been painted green and the entire market cap of over 2,000 coins has risen to $179 billion. Bitcoin seems to be looking for a golden cross after testing the $5,300 level for the first since April 11.

There are great signs that Bitcoin will maintain a rally above the $5,300 resistance level this week.

Bitcoin Price

Known as Proof Of Research/CryptoMedication, James Edwards, affirmed that if Bitcoin is able to stay above the mechanical $5,200 support level this week, it would be huge for the coin.

The long-term moving average of Bitcoin is crossing under the short-term moving average, thus making the 24H chart signal a “golden cross” for BTC.

The EMA50, on the daily resolution, is greater than the EMA200.

While the last Golden Cross which took place in October 2015 pushed the value of Bitcoin by 6787%, Edward believes that the bottom has yet happened as the bear continues to lose its strength and the bull gears up for a rerun. He remains bullish that the Bitcoin will soon witness Golden Cross.

Isn't the time we had an instant wick up to under 200$? 180$ more exactly?

— SpiryɃTC #DelistTether #NeverTrustCZ (@SpiryBTC) April 21, 2019

Bullish Pennant On The Making

In light of the latest market green, analysts have begun to rally round a bullish forecast for Bitcoin and the entire market.

Similarly, a popular crypto analyst, trader and investor, Crypto Rand, has emphasized on the bullish possibility of the market.

While Bitcoin maintains its ground above the $5,200 support level, Rand posited that Bitcoin is aiming for a solid traction above its present resistance level, as a bullish pennant is being cooked.

The crypto analysts added that if the coin is able to ride on the bull in the next few days, the $6,000 region would be the next possible target for the coin.

#Bitcoin looking solid here. Bullish pennant on the making. Target over the $6,000 region. pic.twitter.com/3WMFkuKzBN

— Crypto Rand (@crypto_rand) April 22, 2019

Tags: Bitcoin (BTC)Bitcoin (BTC) After Spend AttackBitcoin (BTC) BottomBitcoin (BTC) InvestorsBitcoin NewsBitcoin Price AnalysisBitcoin price predictionThomas Lee August Bitcoin Price PredictionThomas Lee Bitcoin Price Prediction
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Highlights

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Crypto Investor Explains Why Cardano will Soon Topple Ethereum

Cardano’s IOHK Rebrands, Enters Final Stages of a Large Government Contract

Analyst Explains why Bitcoin Price Could Crash to $6,400

Online Search for “Dogecoin” Surpasses “Bitcoin” in United States

PayPal Q4 Earnings Report Shows Users More Active after Buying Cryptocurrencies


NewsLogical Inc. is a U.S.-centric firm established in 2019 with the aim of providing resourceful and up-to-date cryptocurrency and blockchain information.

Email: info@newslogical.com

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Contents on NewsLogical.com are only for informational purposes and should not be construed as financial or investment advice.

Trading cryptocurrency is considered a high-risk activity that requires technical knowhow because digital currencies are generally volatile.

Contact financial experts for guidance before making any cryptocurrency investment decision.

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