As Bitcoin (CRYPTO: BTC) rose above the $50,000 level as of Sunday evening, here’s what four analysts and expert traders are saying about the largest cryptocurrency by market capitalization.
Amsterdam-based cryptocurrency analyst Michaël van de Poppe told his more than 540,000 followers on Twitter Inc (NYSE:TWTR) the market is looking for constant higher lows for Bitcoin to continue the upward trend.
Structure is broken, now the market is seeking for constant higher lows to continue the upwards trend for #Bitcoin. pic.twitter.com/iEjjmoAGQA
— Michaël van de Poppe (@CryptoMichNL) December 26, 2021
Cryptocurrency analyst Benjamin Cowen said the bitcoin is “coming in hot” with the weekly close above the $50,000 level.
#Bitcoin coming in hot with the weekly close above a modest $50k
— Benjamin Cowen (@intocryptoverse) December 27, 2021
He noted on his YouTube channel that Bitcoin is still below the bull market support band and needs to regain the $53,000 level.
“Until then, we are just simply playing in the sandbox,” Cowen said.
See Also: How To Buy Bitcoin (BTC)
Pentoshi, a closely followed pseudonymous cryptocurrency trader with more than 435,000 Twitter followers, said he is still eyeing Bitcoin touching the $53,000 to $55,000 range, and noted how “clean” the Bitcoin weekly chart was.
Didn't realize just how clean the $BTC chart is on the weekly
— Pentoshi DM'S ARE SCAMS (@Pentosh1) December 26, 2021
Larger HTF range.
Upper bounds 58k
Mid 45
Low 32k pic.twitter.com/rz1oiJwMEl
Altcoin Sherpa, a pseudonymous cryptocurrency analyst who has almost 160,000 followers on Twitter, said in a YouTube video that the market structure is bullish and Bitcoin will do pretty well over the next few weeks. He added that the Ethereum (CRYPTO: ETH) chart looks better than Bitcoin.
Price Action: Monday morning at publication, Bitcoin is up 3.38% during the past 24 hours, trading at $51,534.39 and Ethereum is up almost 1.31% during the period to $4,098.22.
