{"id":57393,"date":"2019-10-12T11:27:55","date_gmt":"2019-10-12T09:27:55","guid":{"rendered":"https:\/\/en.ethereumworldnews.com\/?p=57393"},"modified":"2019-10-12T11:27:55","modified_gmt":"2019-10-12T09:27:55","slug":"analyst-bitcoin-price-upside-8400","status":"publish","type":"post","link":"https:\/\/en.ethereumworldnews.com\/analyst-bitcoin-price-upside-8400\/","title":{"rendered":"Analyst Eyes Bitcoin Price Upside as $8,400 Holds"},"content":{"rendered":"

Bitcoin Upside Inbound?<\/strong><\/h2>\n

On Friday, Bitcoin<\/a> was relatively flat. While the cryptocurrency briefly fell under $8,250, BTC’s price currently sits at $8,400. Altcoins have followed suit, with a majority barely moving over the past 24 hours.<\/p>\n

Despite this non-action, the charts are purportedly bullish. Extremely bullish by some standards.<\/p>\n

Analyst CryptoHamster recently remarked<\/a> that \u00a0Bitcoin\u2019s one-day chart has printed an extremely positive technical signal that will please bulls \u2014 the Moving Average Convergence Divergence (MACD), a lagging trend-momentum indicator, has crossed into the green after a precipitous drop to oversold levels.<\/p>\n

They claim that such crosses \u201calways were followed by price rises [previously],\u201d before adding that Bitcoin has the potential to reach $12,000 by November. (It is important to note that the analyst\u2019s mention of that price point was not an explicit target, but rather a somewhat likely potential scenario due to the strong MACD.) A move to $12,000 from current levels would imply a 45% upside.<\/p>\n

\n

Moreover, those rises usually happen after bitcoin goes above the Bollinger Bands base line.
Wink-wink \u2013\u00a0we are above it now.
\ud83d\udc40$BTC<\/a> $BTCUSD<\/a> #bitcoin<\/a> https:\/\/t.co\/rQCgFtrKYU<\/a><\/p>\n

— CryptoHamster (@CryptoHamsterIO) October 11, 2019<\/a><\/p><\/blockquote>\n