[2019-05-21] Analysts: BTC Likely to Surge Past $9,000

[CryptoBry]

At the time of writing Bitcoin is trading up nearly 2% at its current price of $7,950, up from its daily lows of $7,700. Analysts now believe that Bitcoin is likely to surge into the $9,000 region in the near-future, which may be sparked as soon as BTC surges past its current resistance level around $8,200.

Currently, the next level of resistance that BTC must surge above exists around $8,200, and if this level is broken, the cryptocurrency may surge to fresh year-to-date highs around $9,300.

Further Read: https://www.newsbtc.com/2019/05/21/analysts-believe-bitcoin-is-likely-to-surge-past-9000-in-near-future-as-upwards-momentum-builds/


Bitcoin is now steadily playing within the $7,900 - $8,000 level for days and we are asking if the next move can be to go back to $7,000 or maybe surge into the $9,000 level. The overall sentiment of the market seems to be favoring the latter as if bitcoin is just resting a little and gathering the energy it needs for the next round of surge. Do you believe on this analysis or you see something else?

[hugeblack]

The overall sentiment of the market seems to be favoring the latter as if bitcoin is just resting a little and gathering the energy it needs for the next round of surge. Do you believe on this analysis or you see something else?

I am inclined to the analysis that predicts the price will see further correction soon. The index has tried to break $ 8000 barrier several times, but quickly returns below that level, indicating a lower bullish momentum and a tendency to be satisfied with the current profit "with other words returning to stable levels at 7200 and 7400 dollars. "

Greed controls the analysis as soon as the green light is seen, a month ago no one expected to reach $ 7,000.

[Slow death]

At the time of writing Bitcoin is trading up nearly 2% at its current price of $7,950, up from its daily lows of $7,700.

we are currently at $7500

Analysts now believe that Bitcoin is likely to surge into the $9,000 region in the near-future, which may be sparked as soon as BTC surges past its current resistance level around $8,200.

Currently, the next level of resistance that BTC must surge above exists around $8,200, and if this level is broken, the cryptocurrency may surge to fresh year-to-date highs around $9,300.

this is a very difficult task to break the  $8300... and it seems to me that it will not break the $8300 so soon. anyway we still have a lot of time to see how things will be, meanwhile, we can read several comments from analysts:

NYMEX Trader: Bitcoin Soon to Move Back to $7,000, Markets to Consolidate

 

[Kemarit]

Bitcoin is now steadily playing within the $7,900 - $8,000 level for days and we are asking if the next move can be to go back to $7,000 or maybe surge into the $9,000 level. The overall sentiment of the market seems to be favoring the latter as if bitcoin is just resting a little and gathering the energy it needs for the next round of surge. Do you believe on this analysis or you see something else?

Spoke too soon, today we have a correction, we have been trading sideways for past days, $7700-$7900 and then we have a break out today, but this time it's going North, as the price slides to $7600. Indicative that $8000 is a big mental barrier to break. It also shows that it had slow down a bit, but for me we are going into the natural process, we don't want to see the price going on another parabolic rise followed by a 30%-40% corrrection. So I would assume that we might see some slide down to $7200 again before attempting $8000 and see how it goes.

[cr1776]

The correct answer is:  no one knows, it is guessing.

Long term trends, sure those can be followed with more likelihood, but short term it is anyone's guess.

My bet is the same as since 2010 - 18-24 months from now we'll be substantially higher than now. And long term it will be worth a lot or very little.