The third wave of growth will stop around $23 thousand
The left week for all market of cryptocurrencies was positive, that it became also for the bitcoin price. “The principal cryptocurrency” stepped over a mark of $10 thousand again, and a capitalization of the market exceeded $500 billion.
Some analysts foretold that last week will become positive for bulls. And occurred — when the bitcoin began to cost more than $10 thousand, investors exhaled. The week maximum the bitcoin reached $11,3 thousand on a mark, such behavior of the price of BTC is quite inscribed in the long-term forecast.
The candle which can be watched in February already has quite created bull body, the principle that it could be closed higher than $10 thousand if and occurs — it will be a signal to the further growth of the price at longer temporal distances. Any local reductions of price, in this case, will be just read by correction of the general growing trend.
The diagram of the change in the price of bitcoin looks hopefully. The situation seems the price, very perspective for further movement, up today — in a week it added 20%. It is possible to assume that this week the new wave of continuous growth will be created. At the same time the beginning of this week most likely will pass in a red zone of the price of bitcoin, but it will be no more, than correction as on the day diagram it is possible to see how price movement in a wedge is fulfilled — the price reaches the descending trend and beats off it.
As for further forecasts — for serious movement, it is necessary to collect acceleration and the corresponding volumes up, unfortunately, without correction to make it it will not turn out. Most likely, the current week the price will fall to a mark of $9 thousand. If investors on this mark do not begin to panic again, then the next wave of growth which will punch the descending resistance will begin. Approximately in the same time celebration of the Chinese new year will end, and Asian investors strongly will promote movement of the price up. The wave of the third rise on a mark of a new historical maximum which can make from $21 to $23 thousand will stop, then it is necessary to expect the new serious recession.
Public data show us that serious investors realized very large purchases of bitcoin (for tens of millions of dollars) at the beginning of February when its price fully sank. It must be assumed that they expect to get not 20% profit on these purchases, and considerably big.