Bitcoin (BTC) has reclaimed the $23,000 position after encountering major resistance recently. As the leading crypto tries to establish its bullish trajectory, investors are wondering if this new position signals a sustained rally or is it just a temporary bull run. Here are the Bitcoin bull predictions and levels from two experts…
“Don’t be surprised if Bitcoin goes to $28,000”
First, in his Jan. 26 analysis, an anonymous crypto analyst from Thescalpingpro stated that Bitcoin could reach $28,000 but faces heavy resistance ahead. After the rally, the analyst suggested that Bitcoin bears remained in disbelief as they continued to take short positions. However, he pointed out that the $23,500 and $24,500 regions remain key areas to watch, as he believes surpassing this area will push Bitcoin to $28,100. According to thescalpingpro analyst:
Bitcoin price is near the high range, with $23.5K and all $24.5K a heavy resistance area. The bears are still shorting and can’t believe it, don’t be surprised if it breaks out and goes straight to $28.1k (without any HTF retracements).
Expected Bitcoin forecast: TechDev points to $50,000
TechDev was more optimistic about this, while Thescalpingpro analyst expected $28,000 to be resistance. According to the analyst, the BTC price could even break the $50,000 limit. TechDev compared the BTC/USD pair to the US Dollar Index (DXY) in a chart it provided during the day. The analyst says that a correlated Bitcoin will accompany it as he expects a rally on the gold side. But still, he expects the precious metal to make tougher moves.
In an additional analysis, Crypto Tony commented, “This is what I am looking for in Bitcoin right now with a correction wave followed by another run up to my $25,000 total.” TechDev says the situation will depend on gold’s movements. “The inverse correlation of both assets with the dollar is beyond doubt,” the analyst commented. According to his expectations, a BTC choked with gold now has a chance to exceed not only $30,000 but even $50,000. BTC is currently trading above $23,000, following the US economic data we quoted as Kriptokoin.com.
What’s next for Bitcoin?
In terms of Bitcoin’s current trend, some analysts have pointed out that bullish sentiment may prevail. Currently, BTC is preparing to form a golden cross. Under this formation, Bitcoin’s 50-day moving average (MA) is approaching a break above the 200-day MA.
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