One of the most hopeful things for investors in the Bitcoin and cryptocurrency market is undoubtedly the analysts’ shares. Predictions about expectations allow investors to form emotions regarding the future direction of Bitcoin. Today, an analyst shared a chart for Bitcoin from X. According to the analyst who shared the daily chart, the coming days might be good.
Super Bullish Claim on Bitcoin (BTC) Daily Chart
You might ask, what is a super bull? Let me tell you, it symbolizes a rapid rise for BTC. I can also say it refers to increases occurring during a period when investors are enthusiastically entering the market. Analyst Trader Tardigrade pointed to this super bull in his share from X today for Bitcoin. According to the analyst, the daily chart has lit the signal flares of an effective rise in BTC.
According to the analyst, Bitcoin is above the red support line of the converging triangle. As seen in the chart, if Bitcoin makes a move to rise above the green resistance, then a bull run will have started.
What Level Does the Analyst Expect?
The analyst, interpreting the chart, has marked the $82,000 level for Bitcoin with an arrow. Accordingly, if Bitcoin achieves this rise, approximately a 30% increase is imminent. The fact that Bitcoin has not risen after the halving makes this expectation reasonable. Because BTC has always recorded rises after previous halvings.
If I evaluate the analyst’s perspective, at least providing a target and mentioning a reasonable figure seems realistic. I’m not saying this to praise, but giving realistic targets is very important to avoid misleading investors. Personally, analysts need to have balanced approaches. Because don’t expect normal comments from a person who has lost their balance.
At What Level is the Bitcoin Price?
Let’s come to the price of Bitcoin, the flagship of cryptocurrencies. BTC was trading at $66,159 while writing this article. Considering that BTC was above the $70,000 level earlier this week, I see that the decrease rate is approximately 5%.
Finally, since there is a possibility of reaching the levels indicated by the analyst, it would be beneficial for Bitcoin investors to prepare. Let’s not forget the fact that being prepared in the cryptocurrency market is better than being regretful.
