Bitcoin consolidates gains in key weekly close

In William Suberg's latest publication, it has been indicated that analyst says 20% drop in BTC price is over, join me to see what the argument is all about this starting from the fact that Bitcoin held near USD 42,000 on January 27, while gains in BTC price at the end of the week made some traders confident of further rallies.

The aforementioned publication has also reported that according to Michaël van de Poppe, founder and CEO of MN Trading, "the current BTC price correction was over", in contrast to van de Poppe the situation seems very optimistic.

According to van de Poppe, "Bitcoin is likely to consolidate from here, between $37,000-48,000 for the next few months", from my perspective this stance has quite a lot of acceptance among those of us who believe that the price action has entered accumulation range.

For van de Poppe, "In this period, altcoins will have their time. The real impact on ETFs is going to come in the next few years, resulting in a Bitcoin price between USD 300,000-500,000."

One of the things that caught my attention the most is that, "If BTC is able to successfully retest the Range Low as support over this weekend...This would allow for a Weekly Close that would confirm a return to this range that BTC lost earlier this week."

Cointelegraph. Bitcoin nears key weekly close as analyst says 20% BTC price dip 'over'. Link

The cover image does not belong to the author: @lupafilotaxia, the image was taken from: Cointelegraph