Bitcoin Price Action Says Bottom Is In, Analyst Reveals What’s Coming
Ananda, a crypto analyst Lots of crashes below $80,000 last week. In line with this, analysts revealed the next step in flagship cryptocurrencies.
exist TradingView PostsMaster Ananda claims that the bottom is based on the current Bitcoin price action. He said the drop last week, touch, was the perfect bottom signal. Analysts further point out that $78,300 can be considered as the bottom, which is better than the following BTC’s all-time high (ATH) $109,000.
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Master Ananda also pointed out that this is a classic review because there is always a strong man Bullish breakthrough. He explained that this classic backtracking is perfect for Bitcoin prices, as flagship cryptocurrencies will take time to build power. Analysts add that taking time to grow is good, and that is the only way for BTC to move higher in the long term.
Meanwhile, as to what the next step in Bitcoin’s price is, crypto analysts say an average daily price increase of $500 or $800 can reveal the time it takes to reach higher prices and higher levels in the coming months. Then, Master Ananda suggested Flagship cryptocurrency can reach $200,000 next month.
Then, Master Ananada advises market participants to buy and hold because of the low bitcoin price lows. He added that the market is offering a second opportunity as market participants have the opportunity to buy at relatively low prices. The crypto analyst also mentioned that BTC is in its cumulative phase and asserted that it will continue to grow over the long term.
BTC recovery power
Crypto Analyst Titans of cryptocurrency It is also confirmed that Bitcoin price is recovering momentum. He noted that BTC responded strongly to Kijun’s support on the weekly chart. Analysts added that a weekly distance of around $94,000 above Tenkan will confirm the momentum shift and strengthen bullish cases against flagship cryptocurrencies.
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Meanwhile, in another X post, the analyst asserted Bitcoin bull market Still there. He claims that according to supertrend indicators, there is no bear market. Therefore, analysts believe that it is not the time to bearish. The chart he accompanied shows that Bitcoin prices may still rise to more than $200,000 before the bear market begins.
At the time of writing, the Bitcoin price was trading at about $92,000, up more than 5% in the past 24 hours. data From CoinMarketCap.
Featured images from LinkedIn, charts from TradingView.com
