Bitcoin (BTC) Price Back to $10,000 ‘In One Candle’: Trader
Joel Birch, Co-Founder of Staked investment service and a digital assets trader, explained how Bitcoin (BTC) will return to the five-digit waters.
Striking Dissonance
Mr. Birch noticed that the price of Bitcoin (BTC) and its trading volume are following different paths since the horrible Black Thursday. With this bit of information, the discord may not translate as good news for bulls.
$BTC price has been increasing while volume has been decreasing, inside a 20% channel, for a month now.
— Bitcoin Birch 👨💻 (@BitcoinBirch) April 17, 2020
This is bearish AF, which is exactly why we’re pry gonna pump back to $10k in one candle.
Birch even highlighted that both trends have fallen into the 20% channels. This indicates uber-bearish prospects for the flagship cryptocurrency, but only as a short-term outlook. There is a rapid upsurge above $10,000 in the cards for Bitcoin (BTC). The trader assures that it would be so meteoric that the trading charts would witness it in one green candle.
Twitter followers of Mr. Birch have been left guessing about which candle he is talking about (minute or hour), and when this magnificent pump will follow.
Post-Halving Parabola?
The prediction by Mr. Birch sounds more than realistic. When the overall trading volume is low, the order books lack liquidity, so, the asset prices are subject to manipulation. Therefore, Bitcoin (BTC) holders should be prepared for a couple of ugly swings before the start of another bullish market.
