BTC is revolving around $7k mark: See what analysts say about BTC Performance
The world’s leading cryptocurrency Bitcoin is revolving around $7000 mark and is not showing much progress.
At the time of writing, the coin is standing at $7231 with a change of -0.29% in 24 hours. The coin is hanging around the level of $7k. Earlier today, the coin was trading at $6630 mark but now it has reached $7231 mark crossing the $7k level.
What do Crypto analysts say about BTC Performance?
Bitcoin performance has not been satisfactory since last week and is failing to start a rally. Some crypto analysts say that Bitcoin has almost reached its bottom. Crypto analysts have different views about Bitcoin. Here is what these seven analysts say about bitcoin.
1)Tone Vays
A crypto analyst, Tone Vays says that six months ago I bet with Ran Neuner at Consensus 2019. The bet was on Bitcoin price that it would pull back to the mark of $4500.
He said that the price of the coin was moving up at that time and now it is moving down. He says that I am very confident as I was six months ago.
6 Months ago at #Consensus2019, @cryptomanran & I bet on #Bitcoin pulling back to $4,500. Price of $BTC was about the same but trending up, now it's trending down.
I'm just as confident today as I was then, 6 months to go!
Full Video (comments are funny): https://t.co/z1STRhnp4e pic.twitter.com/GSosMyP3NW— Tone Vays [Vegas – Unconfiscatable.com] (@ToneVays) November 24, 2019
2)Josh Rager
Another Crypto analyst and Co-founder at Blockroom.com, Josh Rager also gives his view on bitcoin performance. He says that Bitcoin has already seen an 18% drop in this week and is trying to hang out to the $6800 mark.
Josh says that the coin is not looking so much bearish as it would look at the $6300 mark. The main question is that will the coin recover toward $7k or not.
$BTC Weekly close
18% drop this week and currently trying to hang out to the $6800s
Funding still positive, so not overly bearish at this point as $6300s would be an eventual target here, the only question is does it bounce back up to high $7ks before or after the next drop pic.twitter.com/UkNj7kJT9W
— Josh Rager 📈 (@Josh_Rager) November 25, 2019
3)Cole Garner
Cole Garner a market cyclist and cryptocurrency analyst says that conjunction is forming around the area of $6400. He also says that I do not think that weekly close will occur below this area.
Confluence forming around the $6400 area as $BTC's highest probability bottom.
– Logarithmic channel bottom
– Volume point of control for the last two years
– @filbfilb's estimated mining production cost floorI don't expect to see a weekly close below that. pic.twitter.com/KfwdcjgIqW
— Cole Garner (@ColeGarnerBTC) November 23, 2019
4)The Crypto Dog
The Crypto Dog says also expressed his view and said that Bitcoin price has dropped by 15% and has rapidly sliced through POC. He also said that we will soon see a reasonable squeeze.
$BTC sliced thru POC and dropped another 15%.
I haven't been trading much this past week while traveling but I think it's time to start looking for longs again. Thick support down to $6200, I think we see a handsome squeeze shortly.
Where are your bids? pic.twitter.com/b7WZH1egwS
— The Crypto Dog📈 (@TheCryptoDog) November 25, 2019
5)Crypto Rand
A Bitcoin investor & trader and Blockchain advisor, Crypto Rand says that this present situation looks like the mid-2017. Things were not good for Bitcoin. China was banning things all around and media was calling the death of bitcoin. But everyone knows how that year ended for Bitcoin.
It feels like Mid 2017 all over again:
– Everyone panicking on #Bitcoin drop
– China banning stuff here and there
– Media calling the death of BitcoinBut we all know how the year ended.
— Crypto Rand (@crypto_rand) November 22, 2019
6)Mr. Anderson
A crypto analyst Mr. Anderson stated three rules about catching a bottom. The first rule to catch a bottom is that do not try to catch a bottom. He posted these rules on Twitter.
The first rule of catching a bottom is:
Don’t try to catch a bottom!
2nd rule (if you can't help yourself): Wait for a higher low (not that these means bottoms, but, all bottoms will begin w/ one)
3rd rule: Wait for some moving average stability, preferably on a higher TF
— Mr. Anderson (@TrueCrypto28) November 25, 2019
7)Scott Melker
Scott Melker is a crypto trader and analyst who also analyses bitcoin current situation and said:
Potential bullish divergence with oversold RSI on every time frame below 12 hours. Bottom likely close. I wanted to see it on daily, perfectly happy seeing it here. Not confirmed.
Potential bullish divergence with oversold RSI on every time frame below 12 hours. Bottom likely close. I wanted to see it on daily, perfectly happy seeing it here. Not confirmed. pic.twitter.com/OlO2sE5OEQ
— The Wolf Of All Streets (@scottmelker) November 24, 2019
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