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Traders Are Waiting For BTC Price To Touch $11K Level: How Soon It Might Happen? 

  • Vera Yurina
    📰 News

    BTC has all chances to touch $11K target, but when it should happen? Read BTC price predictions from TradingView users

Traders Are Waiting For BTC Price To Touch $11K Level: How Soon It Might Happen? 
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Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

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After the recent strange fall, Bitcoin has quickly recovered and accumulated new strength to go further. Traders say that it has all chances to hit the $11,000 target and continue to the $12K goal. How soon that should happen? Let’s check out BTC price charts and read Bitcoin price predictions from tradingview users. 

Megabull starts on 22-23 September?

What will happen to BTC next?
Bitcoin (BTC) price chart by TradingView

The last night, we observed the Bitcoin 1D Bollinger band Head Fake that played out nicely. So, what’s going to happen next?

A few hours later we got a full bart up to $10,380 back in the middle of the 1D Bollinger Band squeeze and this was a head fake. If you look at the volume you see a nice green bar which was the highest we have seen since early September! That green volume bar confirms that this is a legit head fake. We just need that last part of the confirmation that comes next week with a break out past the top of the symmetrical triangle at $10,450-10,550 give and take / Bitstamp. 

We have a 3rd wave which we just started after hitting at $10,380-10,480. Yesterday, Bitstamp hit precisely $10,380. From here we should see Bitcoin go for a last gradual sell-off on this wave that could drop to $10,100-9,950 roughly until September 21-22 after which we break out past the top of the symmetrical triangle (confirms past $10,550) to $11,000 for the BAKKT launch.

So why are we seeing such 3 waves with spikes followed by a decline? BitcoinGuru’s theory is that the Market Mover uses the 3 Bitcoin waves to load up on ALTS 3 consecutive times and having them surge. We still have the 3rd wave on ALTS to do I believe this weekend. Make sure you take full profit on ALTS to BTC by Sunday/Monday as after that Bitcoin may go for the last sell-off so the Market Maker loads/scoops up cheap Bitcoin the last time before we get the real break out on September 21-22.

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It’s only the start

BTC might skyrocket to $12,400
Bitcoin (BTC) price chart by TradingView

A lot of traders predicted the BTC surge like the one that happened yesterday. They waited for a better entry-level down at the $9,500 level but never got it until now. Throughout the day we had a consolidation pattern that "should" have broken to the downside but our MACD oscillator gave us a clue as to why that wouldn't happen. Instead of negative momentum to begin again after cooling down from the previous drop, we saw positive momentum shift the trend, breaking the pendant to the upside exactly to the 0.5 fib level. 

The price bullishly consolidated over the potential bear flag and broke up to the 0.5 level again to break it. Now we are bullishly consolidating again, and this time over a descending channel that broke down from $11,000 range. If the daily candle ends up looking like this one seen right before this rise up until $12,400, we should start to see something resembling a new rising channel formation to the ultimate target of $11,700! We can see on the RSI 1D chart that there is a bullish divergence bounce from the same level while sustaining lower prices.

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We need a new confirmation

No reason to be bullish
Bitcoin (BTC) price chart by TradingView

HeisenbergBTC has been watching this pattern for ages and it is coming to an end. Looking at history we did have a downtrend that resembles a flag pole and a pennant that broke down (the first triangle to the left). This looks like a continuation pattern that broke down afterward. A descending triangle is typically bearish, but not pennants. Bitcoin daily volume today is at $19,752,190,073 and Bitcoin dominance is sitting at 69.65%, so there’s no reason to be bullish about BTC even after the latest surge.

Disclaimer: Price predictions from news.u.today should not be considered as trading recommendations. The cryptocurrency market is prone to high volatility and occasional arbitrary movements.  Before making investments, you should make your own research and be familiar with all local regulations.

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About the author

Crypto writer, blockchain geek & Bitcoin holder with a strong belief in the power of cryptocurrency. Veronika combines in-depth analytical approach with creative writing to deliver the texts that both inform and entertain. With hundreds of reviews, SEO articles and marketing texts under the belt, she has experience of working for blockchain Medium channels, Cryptodiffer site and ICOs. Part of U.Today team since 2018, she focuses on crypto price predictions and monitors the market to provide the most relevant info & opinions.

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Bitcoin Price Likely to Decline to $7,800: Crypto Analyst

  • Yuri Molchan
    📰 News

    Bitcoin is to find support at $7,800 or recover to $8,300, an analyst writes, but either way ‘continuation of the ranging on either of the levels is going to occur’

Bitcoin Price Likely to Decline to $7,800: Crypto Analyst
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Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Over the last few days, Bitcoin has been trading below the $8,500 area. At the moment, it has recovered to $8,258 after the recent slip below the $8,100 level.

Analysts have been bullish on BTC in the long run, however, the nearest BTC price movements are expected to be bearish.

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The crypto analyst @CryptoMichNL believes that there are two paths ahead of Bitcoin at the moment. If it fails to recover to $8,300, he says on his Twitter page, then the market should be ready for the flagship coin to drop and find support at the $7,800 or $7,300 levels.

Whichever way it goes, ‘continuation of the ranging on either of the levels is going to occur’.

The analyst tweeted this forecast twice with an hour pause.

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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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