3 scenarios for the future of the bitcoin cryptocurrency published

Doctor Profit, a popular trader in the crypto community, has named the three most likely scenarios for BTC in the next 7−14 days. He posted his forecast for bitcoin on Twitter.

1. According to Doctor Profit, the most likely scenario for BTC in the next 2 weeks could be a fake breakout of the 200-week moving average (WMA200) to the $ 29,000 area. According to the trader’s observations, there is a liquidity zone at this level, which can be a magnet for the cryptocurrency rate.
2. According to Doctor Profit, the fake breakout of WMA200 may be followed by a retest of the 50-day moving average (EMA50). The movement could bring BTC to a level above $ 31,800. The second most likely forecast for bitcoin does not exclude the coin’s growth to $ 37,000 to $ 38,000.
3. Doctor Profit also presented the worst-case scenario for BTC in the coming days. The analyst expects a drop to $ 24,000, but such a future remains unlikely.

The expert also drew the attention of his microblog subscribers to a number of points that should be taken into account when predicting the value of BTC. The list includes the following points:

Twitter users' sentiments about the future of the crypto market are extremely positive. According to Doctor Profit, a group of crypto industry participants is often wrong. Therefore, excessive positivity about cryptocurrencies is a «red flag» in the trader’s opinion.

Bitcoin may sell off in the US amid FUD. Doctor Profit expects negative news related to the regulation of the crypto market in America to be published.