03.09.201900:40 Forex Analysis & Reviews: Bitcoin price forecast: buy before the next rally begins

In the last month, Bitcoin has been smoothly falling. A drop in price to $9,300 was necessary for the next rally. The course continues to attract buyers, as investors are waiting for the next parabolic stage. Bitcoin went down from the level of $10,000 dollars, updating lows close to $9,300, after the current recovery began. The currency is currently trading at $9,771. The first resistance line is observed at $9826. If Bitcoin manages to rise above this barrier, the move will remain unchanged until it reaches the next level of $9928. The biggest obstacle to $10,000 is the $9928 level. If it can be overcome, then the next stage is $10,400 dollars and then another resistance level will approach, $ 10,436 dollars. If the trend unfolds, then before dropping to the most powerful support level of $8606, Bitcoin is waiting for the marks of $9725, $9420 and $9000.

Expecting a new serious rally, we recall the forecast of the famous trader and analyst Peter Brandt, who said that Bitcoin is moving to the fourth parabolic phase. Brandt is remembered for accurately predicting a downward trend last year, and now the analyst claims that the next spurt will bring the first cryptocurrency closer to $100,000. In May of this year, Brandt began to determine the potential of Bitcoin in 2019. He believes that the movement of bitcoin over the past four months indicates the beginning of a new long-term growth cycle. "Bitcoin is aiming for the $100,000 mark. The BTC/USD pair is experiencing its fourth parabolic phase since 2010. No other market in my 45 years in trade has become so parabolic on the log chart," the analyst said.