As Bitcoin is struggling to break above the pivotal $4,200 resistance level, a future price spike is pretty much a sealed deal, according to famous cryptocurrency analyst Crypto Thies. He claimed that Bitcoin is at historic bounce levels, and he’s ‘confident’ that the price will continue to move upward. However, the lack of ‘sell climax’ flies in the face of Bitcoin bulls, so one shouldn’t rule out that BTC will remain in limbo.
$BTC— Crypto Thies (@KingThies) March 19, 2019
Volume MA (on bottom) is @ historic bounce levels on the 1W. Volatility incoming.
Confident in continuation to upside, although positioned to be fine in event of price dump. Always prepare for best and worst case.
1 bear thought I have, is a lack of sell climax thus far pic.twitter.com/hmpWojyRiN
Meanwhile, Josh Rager, another influential trading analyst, believes that Bitcoin is positioned for a huge drop. He believes that the BTC price could plunge to $3,500.
$BTC Weekly Chart— Josh Rager ? (@Josh_Rager) March 20, 2019
Gandalf is holding $BTC below the mid $4,200 level
Bitcoin shall not pass the current resistance
So my target for the next drop has an aim at previous support near mid $3,500s pic.twitter.com/BGUWMmAl4V