- Bitcoin price predictions are coming in for a sway in price.
- Bitcoin price hits $12800 in past 24-hours before rising.
- Analysts believe that the final rally of the year is yet to come.
The king of cryptocurrency took a plunge below the $1300 mark in the past 24-hours and went as low as the $12816. The king went into somewhat of a reverse head and shoulder pattern for a few hours before rising back up towards the $1300 again.
Bitcoin has been enjoying good highs trading view signals is now giving a buy signal while the king of cryptocurrency is rising into the ascending channel. At the time of writing, Bitcoin price stands at the $13117 mark.
Bitcoin price predictions expecting another rise and fall sway
Major Bitcoin price predictions are coming in strong for an upcoming sway in the ascending channel before falling down in a zig-zag pattern towards the yearly high rally. Cryptocurrency analyst Penny Bags Capital explains that the king has been moving in an ascending channel since the 28th of April 2020.
The analyst furthers that the cross observed on the chart above happens to be one of the strongest technical indicators. The bulls market is in a swing and similar to the 2019 motion where the bulls took lead for a 21 percent expansion in June 2019, the bulls are likely to take another swing upward. After the swing, a volatility period is going to follow the market into a more aggressive upward swing.
Similarly, cryptocurrency analyst Bitcoin Guide explains that the king o cryptocurrency is moving in a very weird 12-hour movement. BTC price is likely to rise until $13200 mark.
After the $1320 high, the king is likely to fall back towards the $12850 range before rising up and above the $13400 mark. The strongest resistance point, as Bitcoin Guide, explains is found above the $13200 mark. However, the analyst further explains that the king would not stop at the $13400 high but rather fall back towards the $12850 range.
Moreover, analyst DillyTheBoy explains that the king of cryptocurrency is going to see a bearish trend before it starts rising throughout the month of November to hit a $15000 high by December. He furthers that the BTC price would then fall back towards the $13000 range.
Last but not the least, another analyst Spy XO 2x explains that the cryptocurrency is scalping at the time of writing and it is going to take a few plunges before it would eventually rise up to towards the new all-time high. Cautious trading is advised to ensure good yields and safe trading during the next few days.
Disclaimer: The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
