In his twitter, a popular cryptoanalyst and trader, Blockroots company co-founder, Josh Rager expressed the opinion that the 4-digit Bitcoin price is a gift that should be used. The expert supported his thoughts with technical analysis.
$BTC Update— Josh Rager 📈 (@Josh_Rager) July 27, 2019
The "potential" lower-high looks to be playing out with a price below $9,690
Eyeing price to make its way to sub $9k at the weekly support level to form a lower-low
Just trying to be fluid, not overly bearish as 4-digit BTC is still a gifthttps://t.co/Eclvfrs92b pic.twitter.com/ofXvPFNSB7
According to him, the Bitcoin price is at its “potential” lower-high and will be below $9,690. At a weekly support level, the price can test $9,000 to form a lower-low value. If the weekly trend turns out to be bullish, there may be breaks up to the levels of $10,500-10,800.
What the future holds?
However, Rager doesn’t think that the market has changed to a bearish one, therefore he calls the Bitcoin price below $10,000 a gift. Recall just a day ago, the Bitcoin price sharply collapsed from $10,100 to $9,500, where it is at the moment. So, Rager’s forecast turned out to be pretty accurate.