Daan Crypto predicts that Bitcoin will rise above the $99,000 level in the coming hours due to the CME GAP. On the other hand, Rover predicts that BTC will experience a decline due to the weakening RSI. Nic argues that Trump’s election and its impact on the cryptocurrency world are still not fully understood by the market.$BTC
Bitcoin’s volatility continues, with BTC trading at $97,770 at the time of writing. While altcoins have mostly held onto their gains, Ether’s weak performance has begun to offset investor interest. However, a prominent crypto analyst revealed what level he expects BTC to reach on Monday. Crypto investors are concerned that the BTC price could fall back to $80,000 after its peak of $99,500. While Trump winning the election and reorganizing his cabinet in a crypto-friendly manner is a positive development, it is suggested that this situation could lead to a significant correction in the short term.
Over $99,000
Daan Crypto expects BTC to rally above $99,000, as Friday’s CME price close was above the current price level. This is called the CME GAP, which typically results in a price gap being tested close to the current spot price. Daan Crypto stated in a statement:
“Bitcoin is slowing down at $96,281 as altcoins moved over the weekend. This is a typical indicator of a bull market and price discovery phase. We have seen BTC calm down and altcoins in the green almost every Saturday in 2021. We expect the pace to pick up again when futures reopen.”
Crypto Rover, after its constant bullish predictions, now voices its bearish expectation. Stating that BTC will make a correction before reaching $ 100,000 due to the divergence in the RSI, the analyst supports his prediction with the chart he shared. If the RSI continues to weaken, he warns that the BTC price may experience a short-term correction.
Nicrypto, on the other hand, thinks that the period we are in is not well understood by many investors. He states that Trump’s election had a big impact on Bitcoin, but the market did not realize it:
“Trump’s election has shifted the extreme tension on Bitcoin so quickly and so far that the market has yet to digest how bullish it is. How can anyone still call this a ‘scam’ when the US government is strategically considering hoarding it? How can one superpower justify another country’s ban when it sees holding Bitcoin as a strategic move?”