Despite the recent announcement of a global financial downturn by IMF head Kristalina Georgieva, the price of the Bitcoin flagship cryptocurrency did not decrease on Friday and continued to trade in the mid-$ 6000 zone.
Crypto traders and analysts share their cautious bullish expectations regarding Bitcoin. One of them, in particular, tweeted that with just over a month to half, Bitcoin has never been so oversold.
“If you pass 6600 dollars, BTC will increase to 7 thousand dollars”
Crypto analyst Michael van de Poppe tweeted that Bitcoin was rejected when closing the $ 6000 CME gap. Crypto Michael believes that Bitcoin may show some consolidation today. However, overcoming the $ 6 mark will give bulls hope that BTC will soon grow to $ 600.
However, if the BTC receives another denial, it is likely to drop below $ 5200, he tweeted.
Rejected here at the CME gap close at $ 6,600, as this one is fully filled now.
Also acting in resistances here.
Looks to me as some consolidation today, but flipping $ 6,600 would be a bullish sign for further momentum to $ 7k +.
Rejecting here -> $ 5,200. pic.twitter.com/aUGuMS9Y8V
- Crypto Michaël (@CryptoMichNL) March 31, 2020
George trader seems to be bearish, believing sellers are likely to hit Bitcoin hard soon.
This would be a logical area for bears to step in hard imo ... pic.twitter.com/2KbtaOMPk8
- George (@ George1Trader) March 31, 2020
“Bitcoin has never been so oversold.”
Today, trader Carl Eric Martin went on Twitter to share a bullish statement saying that now, forty-five days before the collapse, bitcoin has never been so oversold before this event.
# Bitcoin has never been this oversold before a halving.
- The Moon (@TheMoonCarl) March 30, 2020
The trader, known as the Satoshi Flipper, reminded the community that after the approaching BTC reduction in half, the price of the main crypto will react accordingly, presumably expecting it to take off.
“After 45 days, the local #Bitcoin offer will halve, expecting the $ BTC price to react accordingly.”