The crypto market still struggles to recover following the latest price fluctuations. It seems that Bitcoin is flashing a major bullish signal, and the predictions for 2023 and extraordinary. Check out the latest reports below.
Bitcoin flashes a major bullish signal
At the moment of writing this article, BTC is trading in the red, and the king coin is priced at 16,868.
Now, it’s been just revealed that a popular crypto strategist believes that king crypto Bitcoin (BTC) is gearing up for a massive rally in 2023.
The pseudonymous analyst known in the industry as Inmortal said recently that Bitcoin is flashing a trend reversal signal on the three-day chart.
“Monster divergence on Bitcoin. It’s positive, but it isn’t a bottom signal. Price may continue to go down as the RSI [relative strength index] makes higher lows.”
He said that BTC bulls are gathering momentum, and he believes that Bitcoin will launch an epic rally in 2023, mirroring BTC’s performance between March and July of 2019 when the king crypto surged from around $3,000 to $14,000.
“We repeat this in 2023.”
In the short term, Inmortal sees Bitcoin bouncing toward the $17,500 level.
“I would take it.”
This factor could turn BTC bullish – reversal into a bullish asset is near
According to the latest reports, Bitcoin could soon turn bullish, but, as always, there is a catch.
The popular crypto analyst and trader Kaleo said that there is one classical indicator that suggests the fact that there could be an emergence of a new Bitcoin bull market ahead, and this is a pretty exciting thing to learn.
In a new strategy session, Kaleo said that from a historical point of view, every Bitcoin bull market began with a price that crossed about the 200-day simple moving average (SMA).
Make sure to check out our previous article in order to learn more details.