Despite the poor market and bitcoin in recent times, some analysts still have an optimistic view of the trend in the last months of the year.
Crypto analyst Eric Thies recently claimed to have an indicator, called KDJ, that has shown an upcoming bullish signal for bitcoin.
"Based on KDJ, I confirm that the situation will soon reverse, the uptrend is coming soon."
The KDJ indicator is an indicator used by analysts to predict changes in the trend of an asset. KDJ recently showed that the trend of BTC in the long term is moving from bearish to bullish.
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Although bitcoin still shows many positive growth signals over the long term, traders are still uncertain about its fate in the short term.
Crypto strategist and trader nicknamed Smart Contracter with nearly 65,000 followers on twitter says that bitcoin is about to make a decisive move when it approaches the top of a triangle.
"Bitcoin is currently sideways but I'm pretty sure it will make a decisive move over the next few weeks ... but I'm not sure which direction it will break, but it's better to be prepared for the worst."
Smart Contracter is not the only trader seeing that BTC is about to make a major correction. Analyst Josh Rager told his 88,000 followers that bitcoin is ready to end the week's consolidation.
"The volatility of bitcoin is increasing, the price compression is showing that the coin can break above $ 11,150 in the next few days but I will not rule out the possibility that it retests below $ 10,000, maybe. 9,800 USD or 9,600 USD ”
Similarly, IncomeSharks analyst recently tweeted that he suspects bitcoin will be able to retest the area below $ 10,000 soon, namely at $ 9,500.
"I don't think there will be any recovery at the moment, my target is 9,600 - 9,500 USD, I'm pretty sure about that."
Meanwhile, analyst Credible Crypto is still quite optimistic about bitcoin's short- and long-term trends, he said, as long as it stays steady above the $ 10,400 support level, nothing to worry about.