10% Rise Coming for Bitcoin – Here’s When to Long on BTC!

• Bitcoin witnessed a massive fall in the early trading hours and landed close to $24,000, while the bears continue to dominate.
• The token is speculated to offer an opportunity for a good entry as the token is gearing up to go long soon.
• An analyst believes that the BTC price needs to reach the range between $28,000 to $30,000 in the immediate short term to prevent the possibility of rejection.

Recent Price Analysis of Bitcoin

Bitcoin recently hit $25,000 before dropping and facing a huge rejection resulting in a pullback of more than 2%-3%. This has caused seeking pressure on Bitcoin for two consecutive days and may continue for some more time. However, due to its strong performance lately, it is believed that Bitcoin will soon ignite an upswing.

Opportunity for Long Trade on Bitcoin

An ascending triangle has been observed on Bitcoin’s price chart which is believed to present an opportunity for long trade entry if it reaches its lower support at around $24,000. According to one analyst named Tolberti, there is also potential for over 10% increase in Bitcoin’s price very soon after reaching this position.

Price Range Prediction For Short Term

The analyst further believes that achieving a price range between $28,000-$30,000 in short term can help avoid any further rejections from occurring. This would also signify an end of bearish wave making way for another impulse wave heading northwards.

Wave Perspective Of The Price Chart

From Elliott Wave perspective too, it seems like 5-wave impulse are being followed by 3-wave corrections downwards indicating that next impulse wave could be headed towards north if bearish wave ends and rebound takes place.


It appears that despite facing rejections recently, prices of Bitcoin remain strong with good chances of entering into long trades soon with potentials of over 10% increase in price if predicted conditions are met.