• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • About us
  • Write for us
  • Terms and Conditions
  • Privacy Policy
  • Disclaimer
  • Contact
  • All Posts
  • Advertise

TronWeekly

Crypto World News

  • Home
  • Education
    • Best TRON Wallets
    • Beginner’s guide to TRON
  • Opinion
    • Tron Tokens
    • Market Analysis
  • Industry
    • Tron Exchange
    • Project Review
  • Press Release
  • Advertise
  • About us
    • The Team
    • Editorial Policy
    • Write for us
    • Privacy Policy
    • Disclaimer
    • Terms and Conditions
    • Contact
You are here: Home / News / Bitcoin News / Analyst speculates Bitcoin at $6700 is still a real possibility
Bitcoin

Analyst speculates Bitcoin at $6700 is still a real possibility

November 2, 2019 by Ketaki Dixit

Bitcoin’s price volatility has resulted in the community speculating the rise of the world’s largest cryptocurrency to its ATH. The current price hold at $9000 looks to be flaky after many members of the cryptocurrency community have assumed that the price may fall again.

Davethewave, a famous cryptocurrency analyst, had recently tweeted:

“Is the IDEAL buying price of 6.7K still a real possibility?

Yes, but in practical terms I think you’d be buy in tranches/ average in once price hits the ‘buy zone’.

Sailing close to the wind now….”

Many have speculated over the past couple of months that the best time to buy Bitcoin was during the dips, and some had asserted that the best moment for a buy-out was when the value falls below the $8000 mark. At the press time, Bitcoin is exchanging hands for $9165, with its market cap standing at $165.19 billion. After a green spectrum in the hourly, daily, and weekly chart, the cryptocurrency also had a 24-hour market volume of 26.42 billion.

Looking at trading patterns, technically, it is evident that the Bollinger bands were in the midst of a breakout after the price shot from the earlier $7000 range to its current $9000 hold. The RSI (Relative Strength Index) stands close to the ‘overbought zone’ after a rise in the buying pressure compared to the selling one.

Davethewave also tweeted:

“I’m not looking to buy. I’ve been long since the 3K range [started averaging in at 6K before the dip].

This is disinterested TA.

For those who don’t have a position in BTC, I’ve advocated averaging in… anything but FOMO.”

The analyst also predicted that the local Bitcoin bottom would be in the last quarter of 2019, with the reason being the current medium fall will not last long. According to him, “The 6.7 figure reflects 50% correction of the parabola… along the lines of the previous one…”

Disclaimer: The presented information is subjected to market conditions and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

Never miss our daily cryptocurrency news, price analysis, tips, and stories. Join us on Telegram | Twitter or subscribe to our weekly Newsletter.

Filed Under: Bitcoin News Tagged With: Bitcoin (BTC), Crypto Predictions 2019

Primary Sidebar

Recent Posts

  • Bitcoin ATM Giant Coin Cloud Seeks Bankruptcy Protection With Up To $500M In Debts February 9, 2023
  • Robinhood Aims To Take Back $578M of Sam Bankman-Fried’s Stake February 9, 2023
  • Ban On Ethereum Staking Would Be “Terrible”-Coinbase CEO February 9, 2023
  • Kraken Under SEC Scrutiny, Crypto Exchange Accused Of Securities Violations: Report February 9, 2023
  • 11 Years Dormant Bitcoin Wallet Reawakens With $9.5M Gain: A Forgotten Fortune February 9, 2023

Footer

News

  • Altcoin News
  • Bitcoin News
  • Blockchain
  • Tron News
  • World

Digest

  • Meet the Founder
  • Price Winning Article
  • DeFi
  • Cyber Security
  • Crypto Scam

Industry

  • Project Review
  • Technology
  • Fintech
  • Tron Exchange
  • New in Town

Tron Universe

  • Event and Tron Parties
  • New in Town
  • Tron Tokens

Follow Us

Subscribe US

Copyright © 2023 · Tron Weekly. All Rights Reserved. NOTE: Tron Weekly is an independent crypto news site that adheres to the strict journalism policy anchored on transparency, trust, and objectivity, we have no affiliation with the TRON Foundation, its founder Justin Sun or any other cryptocurrency firm.