Although Bitcoin has retraced its steps backward after clinching $8,400 on Wednesday, the leading cryptocurrency is now in the green zone but still yet to show full potential for the bulls.
However, full-time crypto trader and investor Anondran who is bold enough to say that his “tweets are financial advice” has said the present status of the market indicates that Bitcoin 3D is showing strength.
Trader Anondran made the assertion while stressing his previous claim that the crypto asset is flirting with the 30-period 3D Moving Average resistance.
After reaching a low value of $7,600 today, Bitcoin and most cryptocurrencies have returned on the upside trend, and the leading cryptocurrency is now priced above $8K at press time with 1.25% added value in the last 24 hours.
Earlier, Anondran said once Bitcoin flips the 30-period 3D MA resistance, a new bull market will begin.
The entire market rallied up in the last few days. BTC broke above a number of resistance prices and the fractal of the cryptocurrency is now above the 30 moving average.
While backing the possibility of a bullish rally before the next halving in May, Anondran, in a recent statement said as long as Bitcoin remains above the “30 MA pre halving rally will be epic.”
Bitcoin 3D showing strength. As long as above 30 MA pre halving rally will be epic pic.twitter.com/V4lh7Ahprs
— Anondran (@anondran) January 10, 2020
Addressing the pullback that dragged Bitcoin to $7,600 after reaching $8,400 this year, the trader said it is a healthy 10% correction for Bitcoin.
CME Futures Hints Bitcoin’s Price May Be Heading For $11,855
According to Josh Rager, the space on CME Bitcoin futures charts is a great indication of the next potential move expected of Bitcoin. This is possible due to the high level of accuracy of the CME futures data. The gaps on the CME future chart is filled with as high as 95% accuracy.
Analyst and traders have however leveraged the accuracy of the data, using it as a determinant to know the best time to enter the market and where Bitcoin trend would be heading.
Bitcoin has currently returned on the upside trend and it is now priced above $8K.
According to Josh Rager, the CME gaps signal that Bitcoin may be heading for $11,855 price as it remains the unexplored level for BTC since August 2019.
Price has yet to make its way back down to $7,615 & has bounced at support
But wait, looks like the $11,855 gap remains unexplored from August '19
As all CME gap fanatics pray that price doesn't fill the $11k gap before the local gap pic.twitter.com/UOeTQe6pcj