So what is going to be? Crypto analysts put their predictions about BTC's next move on the table, only agreeing that $42K is the breaking line to keep an eye on.
shows that the price of Bitcoin has traded in a range between $41,500 and $43,000 over the past couple of days and with tensions between Ukraine and Russia escalating, many traders are less than optimistic about Bitcoin's short-term prospects.Here’s a look at what analysts are saying about their short-term expectations for Bitcoin price.
A more in-depth read on the current chart formation was provided by crypto analyst and pseudonymous Twitter user TechDev, who posted the following chart, which divides the “year-long BTC range” into two-week-long sub-ranges.“Closing outside one has granted weeks of price action in the next. Yesterday's 2W close above $40,000 suggests the previous close was a deviation. Current 2W key in determining which sub-range we'll be spending the next few weeks.
the following chart suggesting the dip was a deviation designed to “suck in traders on the wrong side” and “trap breakout traders” by making them “load higher/lower targets.”“History doesn't repeat, but it often rhymes. Chances are there that this was just another deviation. At least the sentiment matched near the lows, that's for sure.”
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