The post Bitcoin (BTC) to Hit $28,000 Next Week? This Analyst Thinks So appeared first on Coinpedia Fintech News
The fact that Bitcoin has established what seems to be a firm support level of over $23,000 has brought a lot of excitement to the community. At the time of going to print, one king coin was valued at $23,492; however, only a few days before, the token had even reached and breached $24,000 for a brief period.
All eyes are on Bitcoin’s performance in February as predictions pile up and commentators get enthusiastic. That Martini Guy, a crypto specialist who posts videos on YouTube, has forecast that Bitcoin’s price would reach $28,000 by the following Friday.
That Martini Guy predicted as the CME gap/exchange is about to close, Bitcoin will have a tremendous rise and go higher than $28,000.
The expert believes that Bitcoin’s price will fluctuate slightly around $25,000 over the next few days. He also believes that Bitcoin’s price may start at that level but will most certainly surpass his $28,000 target before the day is done.
Recent monetary policy decisions made by the Federal Reserve in the United States have significantly impacted the cryptocurrency market. Bitcoin and other digital assets rose in value after the Fed said it would slow rate rises to 25 basis points.
Technically speaking, Bitcoin is rising and is headed toward $23,800, where there is some near-term support. If this level is breached, more buying might send the price all the way up to $24,000, where an upward trendline may give support around $24,550.
In addition, the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) are both showing signs of a trend toward selling, which means that more selling pressure might potentially drive the price of Bitcoin (BTC) higher upwards. It is clearly highly expected that the king coin will see a massive surge this month, so let’s watch and see.