The price of Bitcoin has been consolidating since June, after being turned away from the previous market Resistance at the price of Rp. 199 million - stopping the rise of the Bitcoin satellite dish before testing the highest price at Rp. 261 million.
And while many crypto technical analysts say that the price of Bitcoin is trapped in a Triangle - both Descending or Symmetric - other crypto analysts say that Bitcoin has formed what is a monthly Bull Flag pattern, which is about to breakout.
Daily Bitcoin price charts can be interpreted in several ways. It is clear that Bitcoin is now in a tight trading range between Rp. 182 million and Rp. 126 million, with Rp. 142 million acting as a Support level, however, analysts are divided in the form of technical analysis chart patterns that have been formed by price action.
If this happens, the price of Bitcoin will need to break above Rp 154 million, and continue to be higher. This momentum should be enough to cause leading crypto with market capitalization to break the previous highest level of 2019, just under Rp. 200 million.
Breakout at the level of $ 14,000 will almost certainly lead to FOMO, because traders and investors will be sure that the price of Bitcoin is heading for its next full power - something no one wants to miss. In addition, positive sentiment has been given by BTC because of the media attention and the launch of BAKKT.
During the last hike, after the price of Bitcoin surpassed the previous record highs, it would produce almost 20x returns.
In fact, 10 times the current price will place the price per BTC at $ 100,000. Most crypto investors view that the price of Bitcoin will reach this value easily, and potentially reach $ 1 million per BTC in the future, so the $ 100,000 figure sounds like a realistic expectation for this major crypto asset. Let's wait and see.
This is my post tonight, hopefully useful for all my friends, tags from Google.
I've posted this post on my Weku account @fahmi1234
