Bitcoin ($BTC) blinker 'ekstremt sjældent' bullish signal, siger veteranhandler

A top cryptocurrency analyst that has gained a large following on social media after accurately in January 2018 Bitcoin’s 84% decline throughout that year, has said $BTC recently flashed an “extremely rare” bullish signal.

On Twitter, Brandt shared a chart with his nearly 700,000 followers on the microblogging platform showing that Bitcoin is likely to rally upward to the mid $25,000s after flashing an “extremely rare” bottom pattern.

The trader’s bottom pattern uses a fulcrum point, which refers to a turning point that “marks a major change in direction for a security,” according to Investopedia. It indicates that a large price movement is set to soon occur.

The lowest point on an asset’s chart is the fulcrum point when the stock shifts from a downward trend to an upward trend. Similarly, the highest point is the fulcrum point when the stock shifts from an upward trend to a downward trend.

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As CryptoGlobe reported, Brandt has recently suggested that there’s potential for Bitcoin to hit $150,000 by 2025 by pointing to an inverse head and shoulders pattern, which could push $BTC to $30,000 by the second quarter of this year.

Et omvendt hoved- og skuldermønster er det modsatte af standard hoved- og skuldermønster. Det bruges til at forudsige vendingen af ​​nedtrends. Mønstret identificeres, når prisen på et værdipapir når et lavpunkt, stiger, falder igen under det forrige lavpunkt, stiger igen og til sidst falder en tredje gang, men ikke så lavt som det andet lavpunkt.

After the third trough, the price moves upward towards the resistance level at the top of the previous troughs. Brandt’s chart suggested that before moving to $150,000, BTC would hit $70,000 and reserve to correct back down to $33,000, ahead of a major rally that would help the flagship cryptocurrency surpass six digits per coin.

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• Kilde: https://www.cryptoglobe.com/latest/2023/01/bitcoin-btc-flashes-extremely-rare-bullish-signal-veteran-trader-says/