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At the time of writing this article, the price of bitcoin is $18,668 and, experts in the field or simply enthusiasts of the “crypto” world, will be aware of the difficulties that the popular cryptocurrency is going through to cross the $20,000 barrier. However, for Carlos Duat, this situation is about to change.
In addition to being the CEO of the firm Crypto Digital Group, Duat shared with Cointelegraph his analysis for the coming months.
For him, the key is in the charts and, in this case, in a very specific type of figure. “Taking into account the RSI, in this chart we have a descending wedge formation, technically a trend continuation figure, as it usually appears in price oxygenations,” he argued.
“In this case we are looking at the market strength and its direction, so it is interesting and should break out upwards with the targets that I show on the chart. We have an important line on that breakout, which is that white line where it will be my confirmation click for BTC trend change. For me we are in that phase, I don’t see 13k, I don’t see 16k and I don’t see those scenarios, even though the planet is in open war and high inflation,” Duat added.
Carlos Duat’s conclusion on the future of bitcoin
After analyzing the charts, Crypto Digital Group’s CEO indicated that “we have many positive indicators regarding BTC, although the global situation is not the best. There are still massive purchases of BTC by strong companies. I consider that a lot of retail user is still convinced of more corrections, more falls and much lower supports.”
“I think that to launch BTC at 14k is a real madness and that the analysis is carried out step by step. My opinion is positive, I think we are at the starting point of a BTC rise and logically I don’t have the crystal ball, but I’m going to prepare for both scenarios, although I maintain my bullish idea first and foremost,” he concluded on the future of bitcoin’s price.
Joaquín Núñez es hincha de Racing Club de Avellaneda y licenciado en comunicación periodística por la Universidad Católica Argentina. Se especializa en el escenario internacional y en la política norteamericana // Joaquín Núñez is a fan of Avellaneda's Racing Club and has a degree in journalistic communication from the Universidad Católica Argentina. He specializes in the international scene and American politics.