Bitcoin Top Predicted

NEW BITCOIN TOP PREDICTION OF $302K, BTC HIGHEST WEEKLY CLOSE EVER

BTC TOP 3

BITCOIN TOP TO HIT $302K

HOW?

Trying to time the market trend has always been an impossible task even to most experienced traders, even more so with cryptocurrency’s volatility. Steve Hawkins, CEO of Horizon ETFs, said that Bitcoin is now the most volatile asset class in the world. So how can we come close to predicting Bitcoin’s top price this cycle?

One way is to refer to the Relative Strength Index chart.

RSI has been the go-to indicator for most traders, crypto included. It is ought to be a reliable indicator to see price momentum — whether oversold or overbought. Thus, it is not surprising that many technical analysts and expert traders have been watching the RSI closely upon assessing Bitcoin’s trend.

With the recent strong movements of Bitcoin, many are now speculating what and when will we hit the Bitcoin Top. One crypto influencer, infamous for his Bitcoin Stock-to-Flow model and almost on-point price predictions, tweeted and referenced RSI to be one of the indicators we’re about to skyrocket.

And supporting this idea, Analyst Eric Crown (@KrownCryptoCave) through the EllioTrades YouTube channel, furthered the analysis on the RSI chart to come up with a new Bitcoin Top Prediction.

Krown highlighted that through the history of BTC, all bull markets have reached a minimum of 90~ on the weekly RSI. With this said, applying this to our current cycle trend, BTC could go $302,392! Not saying this would happen today or tomorrow, may not even be next week or in the next 2 months, but this would be a massive, massive price action provided that Bitcoin repeats its history of reaching at least a 90 weekly RSI on a bull market.

What do you think? Is a $302k Bitcoin price possible in this cycle? Leave your comments below.

BTC JUST MADE HIGHEST WEEKLY CLOSE EVER

Over the weekend, we have seen promising Bitcoin movements and this was even confirmed when we made a weekly close at around $61,578~.

Bitcoin is looking very good. All bearish arguments have been deemed invalid.

The ‘dead cat bounce‘ argument was invalidated when we have created a higher high above $50k as all dead cat-bounces in history usually create lower highs.

Also, some people called out a possible ‘double top’ but Scott Melker, crypto trader and influencer, argues that a double top can only be “a potential idea until the swing low between the tops is broken”, in this case, $28.8k. Additionally, the linear target for this double top suggests a -$7500 BTC, which is impossible.

AFTER THIS BULL CYCLE, WHAT NEXT?

If it’s too late for you now to enter the market, weighing down your risk-reward ratio, maybe the next cycle is your best bet! Here are some of the alts to watch out for, and accumulate as much as you can, as they exhibit massive potential on to the next cycle.

FTX Token (FTT)

Cardano (ADA)

Terra (LUNA)

Fantom (FTM)

Theta (THETA)

Among all of these mentioned, Bitboy Crypto thinks ADA can definitely compete with ETH in the next bull cycle. So bear market strategy? Accumulate. Hodl. DCA. Whatever suits you, just make sure you watch out for these coins. *wink*

***DISCLAIMER: This is not financial advice. DO YOUR OWN RESEARCH.


ABOUT THE AUTHOR

Elisa A.

Elisa is our Head of Market Analysis at Rocket Crypto X

You can join her Slack channel to get real time updates from the top Crypto influencers.

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