It’s victory: a break above $ 5,000 — the last nail in the coffin of the bears

How much Bitcoin did not criticize his opponents, most of captainvalor is already being prepared for bullrun. By the way, most bullrun has already started — a sure co-founder of Fundstrat Tom Lee. The view of the expert supported the portfolio Manager clients illustrious Point72 Asset Management Travis Kling. According to him, the breakout level of $ 5,000 is “the final nail in the coffin of the bulls”.

Now only up

Recently, Kling became a party to the impromptu debate with a trader The Crypto Dog. He asked the expert about his views on the current state of the stock market and projections for the near future. Travis cheered many commentators thread is very positive news. It turns out that the probability of Bitcoin to the level of the annual minimum tends to zero. This will not happen for at least another five weeks.

In the next seven weeks after the first of April a chance to test the bottom set in December, declined significantly. The movement of the asset (particularly sharp increase after April 1) put the last nail in the coffin of the bears.

Note that in January, Kling expressed a very different point of view. Then he warned, cryptocommunist about another serious drain that will suit the bears before finally leaving the market. The drain may take place — at least, talking about it Fibonacci lines. Judging by the placement of key levels, Bitcoin can reach $ 7,500 before the new significant drop.

Traditional technical indicators also served the first signs of life. May soon be a bullish crossover of moving averages 20 SMA and 200 scale 1-day chart. The last time this event happened in October of 2015. Note that before the previous ballroom held two such crossover.

To gather more x’s on the growth of Bitcoin, be sure to subscribe to our cryptcat!


Leave a Reply

Your email address will not be published. Required fields are marked *