{"id":403058,"date":"2019-11-01T20:00:05","date_gmt":"2019-11-01T20:00:05","guid":{"rendered":"https:\/\/ktsl888.com\/?p=403058"},"modified":"2024-06-11T13:33:39","modified_gmt":"2024-06-11T13:33:39","slug":"analyst-bitcoin-more-likely-to-surge-50-to-14000-than-fall","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/analyst-bitcoin-more-likely-to-surge-50-to-14000-than-fall\/","title":{"rendered":"Analyst: Bitcoin More Likely to Surge 50% to $14,000 Than Fall"},"content":{"rendered":"

Over the past few days, Bitcoin<\/a> (BTC) has found itself in a lull. This is for good reason; after a 42% surge in under 24 hours, it makes sense for the cryptocurrency market to want to take a breather.<\/p>\n

Despite the fact that it makes sense for Bitcoin to see a period of calm and a slight retracement after a monumental surge higher, some analysts have flipped bearish, believe it or not.<\/p>\n

In fact, as reported by this outlet previously<\/a>, one trader expects for BTC to enter the high-$6,000s or low-$7,000s in the coming weeks. The idea here is that that region is where there exists a confluence of technical levels: the 0.5 Fibonacci Retracement of the $3,200 to $14,000 move, the bottom of a descending channel, amongst other important levels.<\/p>\n

But, with the candle for the month of October recently closing relatively strong<\/a> above $9,000, some say it is only a matter of time before the crypto market continues to mount higher, potentially to kickstart the second phase of this ongoing bull cycle.<\/p>\n