It seems that Bitcoin is flashing a bullish signal these days. Check out the latest reports about all this here.
Bitcoin flashes bullish signal
At the moment of writing this article, BTC is trading in the green, and the king coin is priced at $23,196.
It’s been revealed that a popular analyst is providing price target updates for four crypto assets as the markets try to end the week in positive territory.
The pseudonymous trader known as Altcoin Sherpa said that while he does expect Bitcoin (BTC) to revisit $28,000 in the not-too-distant future, the brief surge above $24,500 on July 30th didn’t convince him that BTC is witnessing a strong uptrend in the short-term timeframe.
“I’m still of the opinion we’re going to $28,000 in the mid-term, but would like to see more chop around this $23,000-$22,000 area to form a significant low. The last high at $24,700 wasn’t super convincing to be honest but still a bullish market structure in my opinion.”
The analyst believes Bitcoin can rally if it finds a higher low in the $22,000 to $23,000 range. On the other hand, it’s important to mention that this is happening although he expects Ethereum (ETH) will break out before BTC does.
“I would like to see a higher low get set around $22,000-$23,000, this is still bullish on long timeframe charts until shown otherwise. Still eyeing ETH closely, I think it leads.”
At the time of writing, Bitcoin is valued at $23,919.
Bitcoin is the news
It’s been reported that a popular crypto analyst is making a macroeconomic forecast to see what the future might hold for risk-on assets like Bitcoin (BTC).
In a new strategy session, the pseudonymous host of Coin Bureau known as Guy made sure to explain the fact that periods of high inflation have historically lasted roughly three years, which could give hints as to when the financial landscape could change.