Ali B, a professional cryptocurrency analyst at Crypto News, has identified a critical price level that can work as solid support for Bitcoin. He also stated that the price might hike 15% to the north if BTC survives above the respective support zone.
- Ali recently published his latest technical analysis on Bitcoin and Ethereum on cryptonews.com. “Overall, Bitcoin has been trading with a bearish bias since the breakout of a symmetrical triangle pattern, and a breakout of a double-bottom support level of $18,950 will determine future market trends,” he stated.
- On the plus side, the $19,300 support level may be hard for Bitcoin to breach and turn into a resistance level. If BTC cannot surpass this barrier, its price will surely decline. Keep an eye on $19,300 as a result; or above it. Purchasing option is still viable, up to $19,500 or $19,940.
- BTC may push toward $18,700 if the $18,950 support level is breached. Upon a bullish breakout of $19,250/$19,300, Bitcoin might increase by 15%.
- According to the report, Ethereum is once again in a downtrend after being rejected at $1,309 and finding quick support close to the double-bottom region of $1,273.
