Bitcoin is steadily moving up, and yet the analysts are still divided for over a week now. Experts analyst Murad Mahmoduv claimed in a Tweet – along with a data chart – that the coin is showing some progress but the longer it stays in the “titanium level thickness cluster of resistance” the more the chances to stay in bear.
He Tweeted that current trend isn’t very promising if the market continues the trend Bitcoin is likely to stay in reds longer than most analysts believe it would.
1/ Titanium level thickness cluster of resistance here. The longer we stay here the more I'd be inclined to look for shorts.
If we *do* break it though, $4800, at the very least, is in play. pic.twitter.com/GRxkD7ZzmE
— Murad Mahmudov ? (@MustStopMurad) January 7, 2019
Last week, Chinese analysts claimed something similar about the market believing that the market is good for long-term investments since Bitcoin would not be able to see a new record high any time before two to five years. On the other hand, the other side of the analysis chain is a little over-enthusiastic about the coins progress as it reached four thousand dollars ($4,000) mark and continues to climb.
The second group of analysts is predicting that the currency is currently priming to see a new high above four thousand and two hundred dollars ($4,200), however, it may decline a little before reaching that mark. Basically, two steps forward and one step backward trend walk for the coin.
For now the currency is resisting at about four thousand and sixty dollars ($4,060) while both sides agree on the fact that the currency is likely to take another dip below the four thousand ($4,000) mark before it gets up and start rising towards the current high after a long time of bear market trend in the range below four thousand.