Josh Rager, one of many crypto analysts on twitter, in one of his recent tweets brought to the community’s notice his opinion on the most valuable cryptocurrency, Bitcoin (BTC). Mr. Rager believes there will be no stopping for bitcoin if it crosses the $11,700 mark till it hits its current all-time high of about $20,000.
If you like $BTC at $10k than you’re really going to love when BTC closes above $11,700…
And resumes running through every resistance in its path to new all-time highs
Nothing sensational about this just look at the chart
Little will stand in the way besides profit taking
— Josh Rager 📈 (@Josh_Rager) June 22, 2019
Started As A Joke, But Now Looking Real
Josh Rager, back in June had referred to this same view. In his words, back then, he said he jokingly mentioned his thought which was BTC closing above the $11,700 mark. However, since then, bitcoin’s price has been trading sideways slightly below his forecast and the weekly support level of $9,500. Apparently, the market has taken Mr. Rager’s words more seriously. However, what’s left is to see a close above his suggested viewpoint.
$BTC updated chart on trading view
Back in June, I jokingly mentioned that closing above $11,700 would be the launchpad level before new highs
Funny thing is, the weekly was held below that level and Bitcoin has been sideways since
Updated price action is in pink on the chart pic.twitter.com/tG9nqn6SBQ
— Josh Rager 📈 (@Josh_Rager) September 10, 2019
Though he’s now more convinced of his opinion now more than ever, he hasn’t placed any timeframe for this to happen. In fact, in another tweet, Josh had admonished the crypto twitter to be patient. In his analysis, he mentioned that BTC’s price never experienced the “magical flow” everyone is expecting in today’s market.
In fact, Josh said that the next peak-high may be in a few years from now. Therefore, only those who are patient enough would reap this benefit as he emphasized in his own words that “good things come to those who wait”.
BTC at 8K Still Very Much Possible
Though Josh Rager strongly believes in his opinion, he also thinks the only way it will come to pass is if the bulls begin to savage bitcoin’s present situation. Else, bitcoin’s price may be sliding towards the $8,000 mark in a couple of days.
In another tweet which he shared on Tuesday, 10th September, according to his analysis, BTC’s price had broken through the 20MA support line which it’d held firm in the past couple of days.
With this latest development, Josh opines that BTC’s price is going to retest its previous support of $9,000 and a further drop from there would lead to the market seeing bitcoin at $8,000.
Bears Still Dominating
As at the time of reporting, bitcoin trades at $10,321, gaining about 2.42% from today’s open. There has also been no sign of the bulls insight. If Josh Rager’s opinion goes as prognosticated, we might be seeing more bearish days ahead.
