A new analyst is featured in our latest cryptocurrency news with a prediction that scratches the surface of possibilities for Bitcoin. As the analyst said, little is stopping Bitcoin from setting 2019 highs, especially now that the most dominant cryptocurrency is sitting at $13,000.
Bitcoin (BTC) has been in a firm uptrend for a while and has only recently found itself caught in a period of destabilization after failing to break the recently established 2019 high at $13,800. However, now that BTC is crossing the $13,000 mark, little is stopping the cryptocurrency for setting fresh yearly gains.
At the time of writing, Bitcoin is trading up and its current price has set a new record level for the month of July. When zooming out and looking at BTC over a one-month period, it is clear that the dominant cryptocurrency is in a firm uptrend as it has surged from lows of $7,500 to highs of $13,800 therefore becoming a popular topic on many best cryptocurrency news sites.
The period of consolidation, however, stopped Bitcoin and also triggered other cryptocurrencies to fail. As the altcoin news showed, many digital assets in the top 20 list have reversed because of Bitcoin. Still, little is stopping Bitcoin now from switching the trend back to a positive one – and smashing through the $14,000 margin.
One popular cryptocurrency analyst named UB took to Twitter to explain that Bitcoin does face some resistance around $12,800. He wrote:
“$BTC – Tapped strong resistance and reclaimed a key S & R. This would typically be a short signal but I would prefer to buy the dip around $12.1k – $12k. Makes sense for a rejection on the first attempt at $12.8k – nothing to be alarmed about.”
Other analysts are agreeing that little is stopping BTC from rising – and that the coming altcoin news may also show increases. Josh Rager, another popular crypto analyst, echoed a similar sentiment to UB, stating:
“$BTC Update: Fool me once, shame on you… Fool me twice, shame on me. No way was I shorting Bitcoin after a close under the resistance again. Not much stopping this train, just minor daily & weekly resistance left until new yearly highs.”
As the week continues, the Bitcoin momentum strengthens and a lot of mysteries regarding the 2019 BTC high begin to unfold.
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Stefan has been writing articles for DCForecasts since 2016 in-house full time. As one of our main cryptocurrency writers, he focuses on covering the latest cryptocurrency news, technical charts, price analyses of coins and press releases. When he is not exploring and covering the latest topics in crypto, you can find Stefan playing basketball, tennis or cycling.
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