06.09.201901:14 Forex Analysis & Reviews: Uneven growth predicted for Bitcoin

Many cryptanalysts and digital market enthusiasts are confident that the leading virtual asset is expected to rise. However, this growth will be uneven, similar to price "swings". As a result, Bitcoin will go up, but little by little, and then gradually reduce the height.

By the end of trading on Wednesday, September 4, the number one cryptocurrency slowed down slightly, reaching $10700 after three days of strengthening. According to Omkar Godbole, an analyst at CoinDesk Markets, this neutralizes the short-term negative scenario and contributes to further movement to the level of $10956.

According to technical analysis, the situation on the cryptocurrency market is not very stable. It is in favor of sales, and sellers of the digital currency may be the loser. To restore a favorable situation for the Bitcoin rally, it is necessary to close the daily candle above $10956. If the price of the number one cryptocurrency consolidates below the level of $10286, this will strengthen the position of sellers and open the way to a fall to $10,000.

Analyzing the current situation, some analysts are certain that the leading digital asset may rise in price next week. They believe that the Bitcoin dominance index, which recently soared above 70% for the first time in two years, will inevitably fall below 60%.

At the moment, the main virtual asset is frozen at around $10,700. According to current observations, BTC is still on the sidelines, a way out of which is possible only with a jerk above $12,000. Market participants are trying to prevent the fall of bitcoin, actively buying out the crypto asset after each correction, summarize the analytics.