0
📰 News
2389 views

Market Analyst Jim Wyckoff Predicts That Bitcoin Price Action Will Be Really Boring in the Nearest Future

  • Alex Dovbnya
    📰 News

    Jim Wyckoff’s cryptal ball doesn’t show any significant Bitcoin price move in the coming days

Market Analyst Jim Wyckoff Predicts That Bitcoin Price Action Will Be Really Boring in the Nearest Future
Contents

The days of choppy trading are nowhere near being over, according to Kitco’s technical analyst Jim Wyckoff. The Bitcoin price will most likely fluctuate within its current range this week.

👉MUST READ

Analyst Predicts When Bitcoin Price Will Hit $100,000 Based on Power-Law Growth Model

Analyst Predicts When Bitcoin Price Will Hit $100,000 Based on Power-Law Growth Model

No fireworks 

Wyckoff points out that the bulls have already lost whatever advantage over bears, and now it’s tug-of-war all over again. He will retain a neutral stance with more sideways action expected “in the coming days.”

Bitcoin price chart (Bitstamp)
Image by kitco.com

The market will probably continue see-sawing until the resolution of a major descending triangle that has recently caught the eye of top Bitcoin traders. This pattern has a relatively high failure rate, which could result in a major breakout.

At the time of writing, BTC is trading at $10,265.56, according to CoinMarketCap data, with minor losses over the last 24 hours.

👉MUST READ

Financial Analyst Max Keiser Explains Why Bitcoin Price Will Hit $25,000

Financial Analyst Max Keiser Explains Why Bitcoin Price Will Hit $25,000

A bullish scenario

As reported by U.Today, some of the most sought-after cryptocurrency traders remain bullish on Bitcoin despite a recent stumble in the road to $11,000.

Earlier, cryptocurrency trader John Bollinger predicted that the BTC price could bottom out in the $9,000-$10,000 range before experiencing a major upward move.

Cover image via www.freepik.com
Only the most important posts per day. Infographics, analytics, reviews & summaries. Join our Telegram channel!

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

👓 Recommended articles

This site uses cookies for different purposes. Please set your preferences in Cookie Settings and visit our Cookie policy for more information on how and why cookies are used on this site. Click here for cookie policy

Cookie settings