{"id":403181,"date":"2019-11-03T06:33:52","date_gmt":"2019-11-03T06:33:52","guid":{"rendered":"https:\/\/wncen.com\/?p=403181"},"modified":"2024-06-11T13:33:39","modified_gmt":"2024-06-11T13:33:39","slug":"bitcoin-price-30-percent-rally-12000-analyst","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-price-30-percent-rally-12000-analyst\/","title":{"rendered":"Analyst: Bitcoin May See 30% Rally to $12,000 as Price Breaks Out"},"content":{"rendered":"

While there are some bearish technical signals<\/a> for Bitcoin, the cryptocurrency has managed to hold the $9,000s against the odds. As of the time of writing this, BTC is changing hands for $9,250, up a mere 0.22% in the past 24 hours.<\/p>\n

According to a leading analyst<\/a>, the fact that Bitcoin has held in the $9,300 range is a sign that it may be readying to surge to $11,300, maybe even as high as $12,300.<\/p>\n

Related Reading: Ethereum May Target $170 in Near-Term as On-Chain Volume Drops 20%<\/a><\/h6>\n

Bitcoin Preparing to Shoot to $13,000<\/h2>\n

Josh Olszewicz<\/a>, an analyst at Brave New Coin<\/a>, recently argued that the bull case for BTC is building once again, despite the lull seen over the past week. He quipped that the alligator indicator<\/a>, an indicator that uses three smoothed moving averages to determine trends, is starting to show that Bitcoin is building strength, having gone as far as to signal a long entry.<\/p>\n

Olszewicz then noted<\/a> that the cryptocurrency has recently broken above a triangle. The measured move of that breakout implies that Bitcoin will top in the $11,300 to $12,300 range, where the middle line of one of the analyst’s pitchfork channels lies.<\/p>\n

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4h $BTC<\/a> <\/p>\n

1st long entry triggered on alligator\/fractal at 9300, SL ~9060<\/p>\n

next long entry <9400<\/p>\n

pattern projecting PF ML as tp zone, 11.3-12.3 pic.twitter.com\/ucD4Nnsao5<\/a><\/p>\n

— #333kByJuly2025 (@CarpeNoctom) November 3, 2019<\/a><\/p><\/blockquote>\n