- This week the main cryptocurrency has risen in price by 9.5%
- Analysts are preparing that this is only the beginning
- But before the holidays, there are a couple of things to consider
Today for 1 BTC on the exchanges, we have to pay almost 51000 dollars. It rose 9.5% over the week and about 2% over 25 hours.
Ether costs 15000 dollars. This is 6.3% more than a week ago and about 1% more than yesterday.
Analysts believe that the main boom is yet to come. But now we need to be careful as the support level is not strong enough yet. We have a series of holidays ahead, so many traders will not be able to use their usual tools. In addition, there may be an imbalance between supply and demand.
For example, Phil Firb, co-founder of the Decentrader trading platform, advises to “sit still” for now. He describes the market situation as a “bull trap”:
Crypto trader Rekt Capital draws attention to the fact that Bitcoin currently has a positive monthly candle close. On the chart, he marked in yellow the support for the Fibonacci curve at level 0, 550 (~ 40, 6 thousand dollars)
Plan B’s anonymous analyst also commented on the market situation. As a reminder, this expert created an S2F valuation model and predicted the bitcoin rate at the end of the year in 100 thousand dollars .
“Imagine that a model that has been was within one standard deviation, failed. In my opinion, we are in exactly the same place as in March 2021 when I released S2F: at the low end of the range. Look at the graph. “