After the positive volatility that the markets experienced on Friday, Bitcoin price has finally found some stability in the $3,600 region. This is a direct signal that the bulls are just not ready to surrender the recent gains of the cryptocurrency.
Now, one of the analysts has come out and made a claim that Bitcoin price will be able to surge past the $5000 mark in the coming weeks. This claim comes on the base of the more bullish technical form that has been developing in the formation of the cryptocurrency.
Analyst: $BTC to soon surge to $5000
As of late, we have seen that Bitcoin has been experiencing volatility on the weekends. This has been typically setting the stone for the proceeding weeks.
Even after facing such volatility, $BTC has seen its least volatile weekend in a long time. This can potentially signal that Bitcoin might have found some stability in the current price levels.
Two options I'm looking at right now in terms of targets or movements. Not touching my longs SL in place. Vigilant of the next few days and the Ichimoku action as they will be important to determine my next steps. Higher prices next week have a high probability. $BTC pic.twitter.com/qMC8IbaJiu
— Joe Mitoshi 🧑🚀 (@CryptoSays) February 9, 2019
Even though the markets are very quiet. Mitoshi Kaku, a very popular cryptocurrency trader on the social media application Twitter, has claimed that he will not be surprised if $BTC price was to see a surge. And it would surge all the way to $5000 in the coming ten days.
$BTC – I've been flat since my short was stopped out the other day.
I'm waiting to see the reaction around the Range Low before deciding my next move.
Looking for longs as long as the 1D S & R holds as support (3440 – 3410).#Bitcoin pic.twitter.com/3V4lqWUm8R
— UB (@CryptoUB) February 10, 2019
However, another popular crypto analyst on Twitter, UB, has said that he is waiting for Bitcoin price to fall a bit before entering any long positions. He has set the target price around the region of $BTC’s low in the low. This is below the $3,500 mark.
