Saturday , January 11th 2020
Financial Survivalism, a pseudonymous analyst that last week called Bitcoin’s surge into the $8,000s when the asset was trading in the high-$6,000s, recently said that he thinks BTC can trade at $20,000 by July 1st, 2020, just a month or two after the halving.
He went on to rationalize the prediction, drawing attention to an array of technical signals implying that bulls are about to assert a large amount of control over the market:
1. The Lucid Stop and Reversal has printed a bullish candle for the first time since July 2019, when BTC was trading well above $10,000;
2. The Average Directional Index on a daily basis has seen the first bullish crossover since March 2019;
3. The one-week Relative Strength Index for Bitcoin is “getting ready to test 50,” a level that if broken through may imply dramatic upside;
4. The one-day Ichimoku Cloud has formed a bullish TK cross.