The post ‘It is not the Time to be Bearish & Sell’ Hints an Analyst, Is Bitcoin(BTC) Price Preparing for a Massive Rally? appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide
Bitcoin (BTC) price surged a bit in the recent past but it gave it back quickly and maintained a sideways trend since then. The RSI and MACD had displayed a bullish divergence but in the last couple of hours, both have turned completely bearish. Therefore, the asset is expected to drain heavily which has already begun since the early trading hours.
Is there anything to worry about? Will BTC price fail to rebound from the bearish trend ever? Are the lower targets below $15,000 fast approaching?
Well, Bitcoin despite tanking down hard, still displays bullish prospects that may uplift the price by more than 40%. According to a popular analyst, BTC price is primed to hit $30,000 in the next 30 to 45 days. Moreover, the analyst also believes that the time for being bearish and selling Bitcoin has been surpassed as the asset is on the verge to undergo a strong rebound.
However, the asset has not confirmed the trend yet but the sentiments are coiling up towards the north. After the recent Bitcoin drop, the traders appear to be extremely bullish considering the BTC price. As the long/short ratio on Binance has surged to 1.53 and more than 60% of the future trades have placed their positions are net long.
Collectively, the Bitcoin price currently appears to be poised for a significant upswing as all the indicators are bullish. Therefore, the asset may be accumulating gains currently that may eventually result in a catapult action beyond $25,000 initially and later $30,000 in the coming days