Winklevoss Twins Predict Big Week For Bitcoin As Battle For $12k Reignites

Winklevoss Twins Predict Big Week For Bitcoin As Battle For $12k Reignites
фото показано с : zycrypto.com

2020-8-6 22:57

After a few days of sideways trading, it seems that Bitcoin bulls have roused and are pushing BTC towards $12,000 again. The current price of Bitcoin is around $11,697 with positive momentum.

On the daily chart, the first-ranked digital asset is not facing a lot of resistance until $12,123, but of course, the $12,000 psychological level will always act as a strong resistance point.

The battle for #Bitcoin $12K has reignited. The Bulls are starting to reclaim Bear country.

— Cameron Winklevoss (@winklevoss) August 5, 2020

Cameron Winklevoss, Co-Founder of Gemini, thinks the battle for $12K has reignited. His brother, Tyler Winklevoss, also commented on the current bullish path for Bitcoin:

The #Bitcoin bulls are on parade again. Lots of energy in the market, feels like this is going to be a big week!

— Tyler Winklevoss (@tylerwinklevoss) August 5, 2020

It appears that both twins are bullish on Bitcoin and think the current week will be really positive for Bitcoin. 

Bitcoin Short-Term Outlook BTCUSDT Chart Via TradingView

Let’s check the 4-hour chart to see if Bitcoin’s momentum has shifted towards the bulls or not. BTC was trading sideways between $11K and $11,500 for the past two days. The most important resistance level was established at $11,473, a level that was obliterated by the bulls in the 4-hour chart confirming an uptrend again. The 12-EMA and the 26-EMA were on the verge of a bear cross but the recent breakout has stopped them.

The MACD just turned bullish again while the RSI is not yet in the overbought territory. The next resistance level is $12K and $12,123. The last two candlesticks formed by the bulls are posting increasing trading volume. 

Bitcoin Long-Term Outlook

The weekly chart is also in a firm uptrend and bulls are looking at $12,330 and $14,000 as the next two most important resistance points. If they manage to climb above $14K, bulls will set a new two-year high for Bitcoin.

BTCUSDT Chart via USDT

Most importantly, the monthly chart has confirmed an equilibrium pattern after the bulls defended the low of $3,156 establishing a new higher low at $3,782 in March 2020. A break of $13,970 would most likely be accompanied by a huge move towards $20,000.

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Источник: zycrypto.com

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