• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news today, price & technical analysis
Price & Market
Cap Data from
Nomics Logo
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Gamble +Try
No Result
View All Result
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Gamble +Try
No Result
View All Result
NewsBTC
No Result
View All Result
Price & Market
Cap Data from
Nomics Logo
Home Cryptocurrency news Bitcoin

Analyst: Bitcoin (BTC) May Soon Flip Bullish if Able to Finish Weekend Above $3,480

Cole Petersen by Cole Petersen
2 years ago
in Bitcoin
Reading Time: 2min read
Analyst: Bitcoin (BTC) May Soon Flip Bullish if Able to Finish Weekend Above $3,480
Advertisement

As the cryptocurrency markets enter the weekend, many investors are expecting Bitcoin (BTC) to see increased levels of volatility, as it has made some relatively large price swings over the past few weekends.

Although this volatility has been negative thus far, one cryptocurrency analyst now expects Bitcoin to possibly see a large upwards price swing in the next couple of days as long as it is able to finish the weekend above $3,480.

Bitcoin (BTC) Typically Sees Increased Volatility During Weekends

At the time of writing, Bitcoin is trading down marginally at its current price of $3,475. BTC has been stable in the upper-$3,400 region for the past several days after breaking below its previously established support level around $3,550.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Bitcoin’s typical weekend volatility around its current price levels first began on Saturday, January 19th, when BTC jumped to $3,750 from $3,650, before dropping back to $3,550. This drop established $3,550 as a level of relative support for the next week, until it finally broke below this price level on Sunday, January 27th, when it fell to lows of $3,400.

Although $3,400 has held as a level of support for the past several days, many analysts have previously speculated that Bitcoin will not see any major buying support until it revisits its 2018 lows that are set at around $3,200.

Bitcoin has experienced increased levels of volatility over the past several weekends.

Analyst Claims Bitcoin Could Surge in Coming Days

In a recent tweet from Mitoshi Kaku, a popular cryptocurrency analyst on Twitter, he explained that Bitcoin may see a bullish price move in the next couple of days based on data from the Gann Price Cycle.

“Just finished a deeper $BTC analysis. I decided to move my longs around $3370 and a bullish break out around Feb 3/4. (Gann Time Cycle) – It is time things turns around!”

Just finished a deeper $BTC analysis. I decided to move my longs around $3370 and a bullish break out around Feb 3/4. (Gann Time Cycle) – It is time things turns around! ? pic.twitter.com/7H55PxYtRG

— Mitoshi Kaku ?‍? (@CryptoSays) February 1, 2019

He later noted that he would like to see BTC’s price climb above $3,480 in order for the aforementioned bullish price move to remain in play, but also said that he is looking to enter new long positions around $3,280 if BTC drops further.

“Closed my longs partially here, for the rest I would love something around 3480 // Weekend getaway is here so I’ll probably fill lower longs in the next few days, looking at 3280. Long SL Order set too if the price breaks the HTF Resistance,” he explained.

Closed my longs partially here, for the rest I would love something around 3480 // Weekend getaway is here so I'll probably fill lower longs in the next few days, looking at 3280. Long SL Order set too if the price breaks the HTF Resistance. $BTC pic.twitter.com/3DlWK2cGfM

— Mitoshi Kaku ?‍? (@CryptoSays) February 2, 2019

How BTC trades over this weekend will likely set the tone for the coming week, but it is highly likely that a break below its support level around $3,400 will lead it to revisit its 2018 lows.

Featured images from Shutterstock.
Tags: bitcoinbtccrypto
TweetShare
Nexo Logo
BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner? Win up to $1,000,000 in One Spin at CryptoSlots
Cole Petersen

Cole Petersen

Cole is a cryptocurrency analyst based in Los Angeles. He studied at the University of California Irvine and has been interested in Bitcoin and the crypto markets since 2013.

Related Posts

Bitcoin Exchange Coinbase to Go Public; What Does It Mean for BTC/USD?

Bitcoin Exchange Coinbase to Go Public; What Does It Mean for BTC/USD?

12 hours ago
Bitcoin Sell-Off Resumes Ahead of Key Economic Data; What to Expect?

Bitcoin Sell-Off Resumes Ahead of Key Economic Data; What to Expect?

14 hours ago
bitcoin collateral

Summing Up The Case For Bitcoin As The Future Of Collateral

1 day ago
Bitcoin Hopes to Retest Record Highs After Powell’s Testimony; Here’s Why

Bitcoin Hopes to Retest Record Highs After Powell’s Testimony; Here’s Why

2 days ago
bitcoin btc

Bizarre Bitcoin On-Chain Correlation With Fear And Greed Index Discovered

2 days ago
Bitcoin Makes a Go at $40,000 amid “Risk-Off” Trade

Bitcoin Makes a Go at $40,000 amid “Risk-Off” Trade

2 days ago

Premium Partners

Top Brokers

eToro

eToro

Review · Visit
Evolve Markets

Evolve Markets

Review · Visit
ArbiSmart

ArbiSmart

Review · Visit
PrimeXBT

PrimeXBT

Review · Visit
Moneta Markets

Moneta Markets

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bonusfinder DE

Bonusfinder DE

Review · Visit
Bspin

Bspin

Review · Visit
Wolf Bet

Wolf Bet

Review · Visit

Top Sportsbooks

1xBit

1xBit

Review · Visit

Press Releases

Oxygen Protocol to List OXY Tokens on BitMax

February 24, 2021

HOPR Hosts Global Token Launch Event on February 24th after First-Of-Its-Kind DAO Experiment

February 24, 2021

Egoras- a Decentralized Finance Ecosystem for Growing Markets!

February 23, 2021

Newsletter Signup


ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Auto Trading Software ▸

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2020 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Trade
  • Gamble +

© 2020 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.