Bitcoin’s next target is $20K (or $8K?) Watch for these SIGNALS!

[Monfex]

Bitcoin’s next target is $20K or $8K? 

Hi, Bitcoin investors!

Here is the latest technical analysis of the Bitcoin price chart, brought to you by Monfex - a revolutionary cryptocurrency trading platform.

Chart patterns analysis

On the daily price chart, we've got a strong pattern of an acceding trend channel. The trendlines of this channel slope in an upwards direction, within which the price has been making higher highs and higher lows over the past two months.
This dynamic represents a continuation chart pattern that confirms an upward trend signal. We expect the price to retrace downwards closer to $10,500, and then to continue its upwards rally.

Technical indicators of trend
A 30-days Exponential Moving Average is increasing. The EMA (30) is a critical long-term trend indicator confirming that the long-term trend for Bitcoin remains upward.

Technical indicators of entry/exit points
The primary oscillators, such as RSI and Stochastic, are trending downwards, but haven't approached an oversold range yet. This pattern indicates that the downward retracement probably is expected to continue over the next few days. So, in order to buy Bitcoin , you should wait until both RSI and Stochastic indicators approach an oversold range on a D1 chart.

Summary
The current uptrend has gained strong momentum and it might be difficult for the sellers to reverse the market downwards. Most probably, we are going to see a flat (or sideways) trend over the next week, and then the price will continue its strong rally upwards. We do not recommend opening short positions at this point. For those, who already have long positions, the best investing strategy would be a 'buy-and-hold' strategy.

Active trade signal
- Continue holding a long position in Bitcoin . If you have not bought yet - set a Buy Limit order at $10,500.
- Place a stop-loss order at $9,000
- Place a take-profit order at $20,000
In this trade, the expected risk/reward ratio is 6.4x, which is an extremely attractive exposure!
You can execute this trade signal (buy Bitcoin ) at  Monfex - an industry-leading crypto trading platform.


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[MrSpasybo]

I think BTC bull will face the next pullback soon at $15k and BTC price will fall to 10k again. It is too early to reach $20k before Oct 2019.

[Monfex]

I think BTC bull will face the next pullback soon at $15k and BTC price will fall to 10k again. It is too early to reach $20k before Oct 2019.

Hi! We have a professionally designed trading strategy in place, and we’re not trying to guess the timing of when the particular targets will be reached, instead we just follow the trend.
I believe we may reach $20K sooner than October 2019, but it really depends on a lot of factors. Most importantly, we know that the price trend remains upwards and we continue to hold long positions.

[alltalk]

I am not sure if the Bitcoin will move below $9,000. The price of Bitcoin looks quite good and seems to increase more. I think it will go to above $15,000 like what some people predict currently. However, it may not very soon, it will increase gradually.

[Monfex]

I think BTC bull will face the next pullback soon at $15k and BTC price will fall to 10k again. It is too early to reach $20k before Oct 2019.

Hi! We have a professionally designed trading strategy in place, and we’re not trying to guess the timing of when the particular targets will be reached, instead we just follow the trend.
I believe we may reach $20K sooner than October 2019, but it really depends on a lot of factors. Most importantly, we know that the price trend remains upwards and we continue to hold long positions

[Monfex]

I am not sure if the Bitcoin will move below $9,000. The price of Bitcoin looks quite good and seems to increase more. I think it will go to above $15,000 like what some people predict currently. However, it may not very soon, it will increase gradually.

Hi! It really depends on what timeframe you are looking at. If you take a longer-term perspective than you might be right - Bitcoin has been moving upwards over the past 7 months and the trend is ascending, as evidenced by many technical indicators as well as fundamental factors. We may achieve $16,000 by September of this year.
However, as far as a shorter-term timeframe is concerned, such as an H1 or lower, currently the prevailing trend is downward. So, we shouldn’t rule out the possibility of going below $9,500 over the next week. In fact, my intraday trading strategy is generating a Sell recommendation now, with different indicators and chart patterns suggesting that the next price target to be achieved during the next week might be at $8,500 or even lower.

[kreiskleidolon]

Now we are looking at the possible third wave but I suspected that increase will be much lower compared before.

[Monfex]

Now we are looking at the possible third wave but I suspected that increase will be much lower compared before.

Bitcoin is looking like a good investment. It's really tricky to understand when the right time to buy is, that is why I am constantly analyzing these charts. Good luck with your trading!

[Ambu]

Bitcoin next target is $15k or $20k my opinion definitely this year Bitcoin will be crossed $15k yes it already declined to $7500 currently it started to moving up so next year Bitcoin will be crossed $20k.

[blue]

Today bitcoin crossed $9k this is the second time of this year at the moment bitcoin trade volume is $67.48 billion if bitcoin touch $10500 definitely it will be hit $15k in next months otherwise it price will decline .

[Review]

It's totally myth that btc price will go up around 20k this year..because of this present situation of this year, it's not going to be happen.. The reason of recently btc price going up is btc halving and many investor come on btc which lead it price go up around 9k+ but soon it go down again

[ShadowCrypto]

Now is the time to HODL on, not sell, be greedy and acquire as much BTC as possible. Don’t forget the predominant purpose of this was to begin with - to stray away from government monetary manipulation that has left so many people in the dust to begin with. It’s going to happen again. This time, do something about it.