According to Morgan Creek co-founder and partner, Jason Williams, Bitcoin (BTC), the first and largest cryptocurrency, appears ready for a significant price uptrend in less than 2 days.
Williams shared this prediction with his teeming followers on Twitter a couple of hours ago. He believes that Bitcoin is on the verge of a breakout, as it approaches the apex of an ascending triangle pattern on the short-term timeframe.
Jason Williams wrote:
“This feels like a little World Cup of sorts. Bitcoin could break out on or about the 22nd. I don’t think I would want to be on the sidelines going into this… Bitcoin volatility could be extraordinary to the upside.”
The Opinion of Other Analysts Regarding Bitcoin (BTC) Price Trend
Some other analysts also believe that Bitcoin is breaking out of its tightening range very soon. A crypto strategist identified on Twitter as “Ethereum Jack” hopes to see the leading cryptocurrency breaking out of its comfort zone within a week, as BTC spot volume attains a level that precedes significant expansion.
So maybe this week lol? pic.twitter.com/Fnsm2kICPr
— //Ethereum 𝕵ack 🐾 (@BTC_JackSparrow) July 19, 2020
Another popular cryptocurrency analyst, CryptoBull, also looks forward to seeing Bitcoin (BTC) breaking above $10,000 support level in a matter of hours.
— Crypto₿ull (@CryptoBull) July 21, 2020
Also, a popular crypto trader, Walter Wyckoff, believes that BTC will break resistances with the help of a bullish S&P 500.
“Probably SPX [is] gonna rip on vaccine news and if that happens [it is] gonna pull up BTC. I think that futures opening on legacy will give a clue on what we should expect for the breakout of BTC. Can’t see Bitcoin giga dumping while markets make new highs.”
Probably $SPX gonna rip on the vaccine news and if that happens gonna pull up $BTC. I think that futures opening on legacy will give a clue on what we should expect for the breakout of $BTC. Can't see bitcoin giga dumping while markets make new highs
— Walter Wyckoff (@walter_wyckoff) July 19, 2020
However, some other crypto pundits such as the trading veteran, Peter Brandt, expect to see a major crash of Bitcoin (BTC) in terms of price.
“So I’m trying to figure out where’s this surprise coming from, and I think personally the surprise is that we see a shakeout in Bitcoin. This is not a prediction, but I’m trying to think through the market psychology, which is we have a sharp break in Bitcoin maybe back to $7,000-$7,500.”
At the time of filing this report, BTC is trading at $9,179.52, with a 0.08% price upsurge in the last 24 hours. The optimistic analysts are only hopeful, not certain. The time BTC will print a notable trend could be based on other unknown factors.