{"id":448823,"date":"2020-11-04T10:00:52","date_gmt":"2020-11-04T10:00:52","guid":{"rendered":"https:\/\/wncen.com\/?p=448823"},"modified":"2024-06-11T14:07:59","modified_gmt":"2024-06-11T14:07:59","slug":"analyst-who-predicted-bitcoin-rally-to-14000-says-14500-is-next","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/analyst-who-predicted-bitcoin-rally-to-14000-says-14500-is-next\/","title":{"rendered":"Analyst Who Predicted Bitcoin Rally to $14,000 Says $14,500 Is Next"},"content":{"rendered":"

Bitcoin has undergone a strong rally since Monday’s lows of $13,200. The leading cryptocurrency currently trades for $13,900, up 3.2% in the past 24 hours. Bitcoin is trading slightly below its daily highs of $14,100, which it breached earlier today when the U.S. Dollar dropped rapidly.<\/p>\n

While Bitcoin is still failing to hold above $14,000, analysts think that the coin could continue higher. $14,000 has long been an important level for BTC, holding as resistance in 2019 and marking the 2017 yearly candle close in notable fashion.<\/p>\n

Related Reading:<\/a> Here\u2019s Why Ethereum\u2019s DeFi Market May Be Near A Bottom<\/a><\/h6>\n

Bitcoin Could Move Higher, Historically Accurate Analyst Says<\/strong><\/h2>\n

Bitcoin has seen a strong bounce since the lows put in on Monday and the slightly higher lows seen on Tuesday. As of this article’s writing, BTC trades for $13,900, $700 above the week-to-date lows of $13,200.<\/p>\n

Analysts say that the cryptocurrency will continue to inch higher in the days ahead.<\/p>\n

One historically accurate trader shared<\/a> the chart below shortly after Bitcoin tapped $14,000 on Tuesday evening. As the chart below shows, BTC remains in a clear uptrend and is trading in a bullish<\/a> fractal. The analysis suggests that Bitcoin could move to $14,500 to $14,600 in the coming 24 to 48 hours.<\/p>\n

Of note, this trader has been one of the most accurate fractal analysts over the past few months. He predicted a number of BTC’s price trends, including the rally in the summer, using fractals. His historical accuracy lends to the sentiment that Bitcoin will soon move higher toward $14,500, setting new multi-year highs.<\/p>\n

\"Image\"<\/p>\n

Chart of BTC's price action over the past few weeks with analysis by crypto trader Kaleo (@Cryptokaleo on Twitter).\r\nSource: BTCUSD from TradingView.com<\/a><\/pre>\n
Related Reading: Tyler Winklevoss: A \u201cTsunami\u201d of Capital Is Coming For BTC<\/a><\/h6>\n
On-Chain Trends Bullish for BTC<\/strong><\/h2>\n
On-chain trends bolster the sentiment that Bitcoin will move higher from here. Willy Woo, a leading on-chain analyst, recently noted<\/a> that the leading cryptocurrency has seen a strong uptick in user adoption, supported by new buyers of Bitcoin:<\/p>\n
“The rate of Bitcoin user adoption took a step change UP last month. This latest round of bullish price action has been supported by organic buyers. Interestingly it happened BEFORE the PayPal announcement.”<\/p><\/blockquote>\n
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The rate of Bitcoin user adoption took a step change UP last month. This latest round of bullish price action has been supported by organic buyers.<\/p>\n
Interestingly it happened BEFORE the PayPal announcement. pic.twitter.com\/FPWOJ69uiq<\/a><\/p>\n
— Willy Woo (@woonomic) November 4, 2020<\/a><\/p><\/blockquote>\n