The CEO of the blockchain-based crypto identity platform Civic says Bitcoin could soon rip through resistance and continue rising all the way to $12K.
Vinny Langham, who was bearish on BTC less than a month ago, says Bitcoin’s newfound return to volatility has him expecting a quick run to $12,000 followed by consolidation at $10,000.
This BTC action looks aggressive. Makes me think that we may blow through $10k and test $12k very soon, but $12k is a very heavy resistance level, so I would expect consolidation around the $10k level for some time if $12k is (likely) rejected.
— Vinny Lingham (@VinnyLingham) May 31, 2019
Meanwhile, veteran trader Peter Brandt says BTC appears to have stabilized after its sudden drop from $9,000 to $8,400 on Thursday.
Brandt called Bitcoin’s collapse in January of 2018 and recently said Bitcoin’s recent parabolic rise could take the price of BTC as high as $300,000.
— Peter Brandt (@PeterLBrandt) May 31, 2019
Right now, Bitcoin is up 1.67% at $8,550 according to COIN360. Ethereum is up 1.06% at $264.45 and XRP is up 0.69% at $0.4297.
Technical analysts are tracking Bitcoin’s bounce after this week’s sell-off, with mixed outlooks for altcoins.
Bitcoin Magazine – Bullish market structure upheld following strong sell-off
NewsBTC – BTC/USD pair facing solid resistance near the $8,600 mark
FXStreet – ETH/USD bounces off a critical area of support
Crypto Vibes – ETH below resistance at $280, likely to keep falling in short term
XRP, Litecoin, Bitcoin Cash, EOS, Tron, Cardano
CoinCodex – XRP market consolidating on medium-term trend
FX Empire – Bitcoin Cash, Litecoin and XRP push for bullish start to June
NewsBTC – Crypto Market Primed For Gains: Bitcoin Cash, EOS, TRX, ADA Analysis
Join us on Telegram
Follow us on Twitter
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.