According to Morgan Creek Digital Executive, Jason Williams, Bitcoin’s three-month-long horizontal trading range may see a massive price spike within the next 48 hours.
In a recent Tweet, Williams stated to his 41,000 followers that BTC appears to be set to be on a big move upwards, as the worlds top performing asset of the decade approaches the peak of a rising triangle pattern on its short-term timeframe.
“This feels like a little World Cup of sorts. Bitcoin could break out on or about the 22nd. I don’t think I would want to be on the sidelines going into this … Bitcoin volatility could be extraordinary to the upside.”
Ethereum Jack, another crypto strategist and analyst holds the same view as the Morgan Creek Digital executive.
Ethereum Jack, as he is known on Twitter, has tweeted that he sees the king of the crypto world exploding within the next seven days. This comes after Bitcoin’s spot value hits a level that leads significant price growth.
The price explosion of BTC has also been linked to a bull run from the S&P 500. Crypto Trader, Walter Wyckoff has states;
“Probably SPX (is) gonna rip on vaccine news and if that happens (it is) gonna pull up BTC. I think that futures opening on legacy will give a clue on what we should expect for the breakout of BTC. Can’t see Bitcoin giga dumping while markets make new highs.”
This is exciting news for Bitcoin as it has held resistance for such a long time now.
For those who have been mining BTC and accumulating and HODLing their coins exciting times are coming and the wait may well and truly pay off.