Technical charts are extremely positive for Bitcoin. cryptocoin.com We will focus on the details you need to know. Multiple players have pointed to $100,000 for BTC as the closing price for this year. The on-chain indicator and S2F model point to $100,000, but not much is said about the technical charts at the moment.
Bitcoin indicators
While fundamental analysis carries a lot of weight for both investors and traders, technical indicators are also worth considering. According to analyst Olivia Broke, technical charts point to a fruitful journey for Bitcoin in the last months of the year when it comes to the short-term future of Bitcoin. Analysts, who closed September, the last month of the third quarter, with an upper candle indicating a volatility range, think that September “mainly experienced consolidation-type movements in which the intra-month price oscillates between extreme highs and lows.
Looking forward, popular trader and investor CryptoBrib is examining the likely outcome of Q4, starting with what seasonality has had for Bitcoin this quarter. As seen in the recent market report, the investor made some notable bullish statements, one of which was as follows; “Seasonality and Q4 show that historically Q4 has always had extreme upward volatility (except for the 2014, 2018 bear markets) with double-to-triple-digit percentage returns on average. I don’t expect anything different this time. Seasonality is on the bullish side.” Additionally, Birbicator, a custom indicator prototype based on the Stochastic oscillator, has confirmed the bullish crossover for Bitcoin’s momentum. Bulls are expected to emerge in the coming months. The analyst says: “In terms of momentum and trend, Birbicator has confirmed the bullish crossover for momentum proving that the long-term market’s upside continuation is going to happen. The direction is stronger upwards again. It’s a dire sign that gives the overall narrative for the next few months.”
What about the emotions?
Note that the MTF chart hides the bears and traders who slashed Bitcoin to $40,000 in extreme fear. Local consolidation is currently expected to be between $56,000 and $58,000. In the image below, there is a bullish burst into the supply zone around the gray area between $50,000 and $53,000.
Finally, the bulls are expected to take over the gray area and reclaim it as a demand zone, thus supporting a retest of the $58,000 to $60,000 region in the next impulse. In the long run, Bitcoin bulls will be positioned for another attempt to break $65,000, the all-time high reached in April, after the $56,000-58,000 breakout was recorded. When it comes to market sentiment, the market is currently neutral. However, the analyst insists that they were wrong, adding that they were wrong when Bitcoin was at the low of $40,000. “The more extreme the emotions, the more false the crowd,” he added.
Contact us to be instantly informed about the last minute developments. twitter‘in, Facebookin and InstagramFollow and Telegram and YouTube join our channel!
Disclaimer: The articles and articles on Kriptokoin.com do not constitute investment advice. Cryptokoin.com does not recommend buying or selling any cryptocurrencies or digital assets, nor is Kriptokoin.com an investment advisor. For this reason, Kriptokoin.com and the authors of the articles on the site cannot be held responsible for your investment decisions. Readers should do their own research before taking any action regarding the company, assets or services in this article.
Warning: Citing the news content of Kriptokoin.com and quoting by giving a link is subject to the permission of Kriptokoin.com. No content on the site can be copied, reproduced or published on any platform without permission. Legal action will be taken against those who use the code, design, text, graphics and all other content of Kriptokoin.com in violation of intellectual property law and relevant legislation.