Captain Faibik has an optimistic outlook despite the general pessimism and decline of the market. Bitcoin Predicting that (BTC’s) future could be bright, the cryptocurrency asset may reach an all-time record high by this month’s end.
Bitcoin To Reach New All-Time High In May
Faibik’s analysisBased on his deep understanding of the dynamics of cryptocurrencies and his keen eye for trends in the market, explores a possible large rise in Bitcoin in the short term. According to the expert, Bitcoin has reached an important junction and is currently testing the MA100 (Daily Moving Average 100) level after recovering in the past.
The crypto asset found significant support historically at 100MA. Should BTC Captain Faibik believes that from now on the market will recover and see a rise in value. He expects that the digital asset will reach an all-time record within the next month.
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BTC has bounced off the MA100 daily level before, but now is trying to do it again. Bullish Rally is expected in the next few days if BTC bounces off of this level. This month, we could see a new All-High.
Bitcoin price movements in daily timeframes also suggest a possible bullish increase. Faibik noted that BTC’s daily chart is moving within his green box and above the trendline. Analyst Faibik expects BTC’s quick return.
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Faibik also noted that the Relative Strength Index has drifted below a long-standing trendline. Faibik believes that this may indicate a temporary waning in positive momentum but it is a signal of an imminent price recovery. BTC still moves within the bullish pattern. The expert predicts that the price will rise. bounce back In the next few days, you can expect to receive $68,000.
BTC Price Target of $100,000
The $100,000 mark is Captain Faibik’s latest bullish BTC price target. Faibik’s bullish target for BTC was $100,000 last week. pointed out The key stories that may catalyze Bitcoin’s price up to $100,000 within the next few months
Faibik also highlighted the fact that BTC Bulls has solidly secured weekly Exponential moving average (EMA) 10, following the October 2017 Descending Channel breakout. This is why the analyst sets $100,000 for the digital assets. next The price of the target.
After a drop of over 13% in the last 7 days, Bitcoin’s price is now trading at $57,701. Over the past 24 hours, Bitcoin’s market cap fell by about 6% while its volume of trading increased by 61%.
Chart from Tradingview.com, iStock image.
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