- “Coosh” Alemzadeh predicted that BTC might attain $165,000 by November 2023.
- In his put up, the analyst mentioned there may be overwhelming proof that the 2019 cycle is coming to an finish.
- At press time, BTC was buying and selling at $30,494.16 after gaining 0.24% up to now 24 hours.
Crypto dealer and analyst “Coosh” Alemzadeh predicted in a tweet yesterday that the worth of Bitcoin (BTC) might attain $165,000 earlier than November 2023. Within the jobhe added that the crypto main’s month-to-month chart signifies that the market is near the top of the 2019 cycle.
At press time, BTC was buying and selling effectively beneath the anticipated $165,000 mark. Nonetheless, it continued to commerce above the psychological $30,000 degree at $30,494.16 in accordance with CoinMarketCap. That is after the crypto noticed a 0.24% acquire up to now 24 hours. Regardless of the each day acquire, BTC’s weekly efficiency remained within the pink at -1.04%.
The each day buying and selling quantity of the crypto was additionally down at press time. Because of this, the full got here to $8,619,014,128, down 63.45% within the final buying and selling day.
BTC’s constructive worth efficiency over the previous 24 hours was accompanied by a 0.42% acquire in BTC’s market dominance. Because of this, the market dominance of the most important crypto by market capitalization stood at round $1.19 trillion. BTC additionally took second place on CoinMarketCap’s trending record, putting it behind meme coin Pepe (PEPE) and above Litecoin (LTC).
From a technical standpoint, BTC’s worth was additionally buying and selling above the 9- and 20-day EMA traces at press time, and was trying to break above the following main resistance degree at $31,135. A technical indicator, nevertheless, instructed that the worth of BTC can be rejected by the resistance degree within the subsequent 24-48 hours.
The each day RSI line had crossed beneath the each day RSI SMA line within the final 48 hours. This was a major bearish flag that, if validated, might see BTC worth fall to the essential help degree at $28,850 within the coming week. However, if the bearish flag just isn’t validated, BTC might look to interrupt above the aforementioned $31,135 mark.
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