Morgan Creek Digital executive Jason Williams said Bitcoin (BTC) quarterly tight trading interval could end in about 48 hours. In his post, Williams stated that BTC seemed ready for a big move as the leading cryptocurrency approached the peak of an increasing triangular pattern in the short-term time frame.
“It feels like a little World Cup. Bitcoin can explode at 22 or in about 48 hours. I don’t think I want to be on the edge… Bitcoin fluctuation may be out of order. ”
Bitcoin (BTC) Explodes in 7 Days
Morgan Creek Digital co-founder is not the only analyst to expect BTC’s narrow trading range to end soon.
So maybe this week lol? pic.twitter.com/Fnsm2kICPr
— //Bitcoin 𝕵ack 🐐 (@BTC_JackSparrow) July 19, 2020
Cryptocurrency analyst Ethereum Jack says that the leading cryptocurrency will explode in the next seven days, as Bitcoin’s spot volume has reached a level that precedes a significant price increase. A gradually decreasing volume shows that many traders are ready, waiting for an asset to be clear in terms of direction.
Meanwhile, another cryptocurrency analyst, Walter Wyckoff, believes that Bitcoin will violate resistances as it gets help from the S&P 500. The analyst thinks that the news of the epidemic will have a positive impact on the markets and this improvement will benefit Bitcoin.
However, not all analysts see a strong Bitcoin rally on the horizon for BTC. Legendary analyst Peter Brandt expects Bitcoin to make an important negative move. Brandt thinks that $ 7,000-7,500 levels will be seen in BTC.