Happy! Bitcoin May Be Entering a Bullish Trend

Bitcoin / 15 September, 2019

Bitcoin has experienced upward momentum recently after facing increasing selling pressure around IDR 140 million.

The ability of the BTC to hold above this price level may be a sign of the Bullish, as it gives a signal that the Bears do not currently have enough power to send the BTC back to the next major Support level in the region below Rp 130 million.

Bullish’s response to the Rp 140 million level has led a leading analyst to state that he believes BTC has formed a medium-term Bottom level, which might mean that today’s surge will mark the beginning of the next upward trend.

At the time of the press, the price of Bitcoin was at Rp 146 million, up 2 percent within 24 hours, according to CoinGecko.

It is very likely that BTC will find some Resistance levels in the region of Rp 150 million and above, because it has faced some rejection in this price area over the past few weeks.

Bullish response at Rp 140 million also indicates that this price is the main psychological support level and may also indicate that further increases will occur soon in the coming weeks and months. KWITANGKOST

UB, a popular crypto analyst on Twitter, explains in a tweet that the Bitcoin technical formation is currently emitting many Bullish marks, which has made him add to Long’s current position. He said:

“$ BTC – Long from $ 10,104. I decided to take a more aggressive entry based on my analysis that Bottom had. I entered right above yesterday’s daily opening – that was the main intraday S&R level. Recently closed hourly above Range Low – wants to increase my [position] Long. ”

UB is not alone in evaluating Bullish-yes about the current price action of Bitcoin, because Flood – a very prominent trader who has correctly predicted some big movements in the crypto market – said in his Twitter tweet that he believes the recent decline in crypto to the region of Rp. 126 million may have marked the middle-term bottom. He also said:

“For the first time in a few weeks, Bitcoin actually seemed to be relatively moving in the bottom over the medium term. I take the Long position. ”

However, not all analysts agree with this. Josh Rager, a cryptocurrency analyst on Twitter, said that Bitcoin might drop to $ 8,000 or IDR 111 million when viewed with Moving Average (MA) and Exponential Moving Average (EMA) indicators.

The coming days and weeks will be very important for Bitcoin, because an extension of the upward momentum now can validate the idea that Bitcoin has reached its lowest point in the medium term. Let’s wait and see.

US will open the registration and start accepting deposits of Bitcoin, Ethereum, XRP, Bitcoin Cash, Litecoin and Tether.

Binance CEO in US, Catherine Coley said that after opening registration, customers will be able to register an account and choose the verification level needed to reach the desired withdrawal limit.