RATE Group | Bitcoin Going to $100K After ‘Steady Accumulation,’ Says Crypto Trader
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Bitcoin Going to $100K After ‘Steady Accumulation,’ Says Crypto Trader

13 Aug Bitcoin Going to $100K After ‘Steady Accumulation,’ Says Crypto Trader

Posted at 12:30h in Bitcoin News by

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Former Goldman Sachs analyst turned Bitcoin (BTC)  maximalist Murad Mahmudov believes the top cryptocurrency will hit $100,000.

“Zoom out & think big”

In a tweet posted on Aug. 13, Mahmudov — who serves as chief information officer (CIO) at cryptocurrency hedge fund Adaptive Capital — wrote:

“At first glance this looks like a weak chop for the next week or so, but my intuition tells me there is steady accumulation happening at these levels. Don’t try to outsmart yourself on short timeframes, zoom out & think big. In my view, BTC is going to $100K per orangecoin.”

BTC-USD technical analysis

BTC-USD technical analysis. Source: @MustStopMurad

Mahmudov analyzed the coin’s key support levels, observing that “200MA [moving-average] /EMA [exponential moving average]/RSIbands [relative strength indicator]+Weekly support all point to 10.8 [$ thousands) but you may get a wick at most given the orderbook support across exchanges.”

Isolating $10,800 as an emergent key support level on the BTC/USD daily…

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