KOL Altcoin Sherpa is pulling the closest route for BTC as it stayed below $ 50,000
A prominent analyst is planning the next step for Bitcoin as the benchmark cryptocurrency continues to trade below $ 50,000.
In one Video Newly, Altcoin Sherpa says it is exploring two ways that could determine Bitcoin’s (BTC) long-term trend.
“It is almost certain that Bitcoin will hit a lower high above the $ 70,000 region, and then when it hits a lower low I will prefer the bears. If it comes down to a higher low, I’ll join the cops. “
According to Altcoin Sherpa, he expects Bitcoin to soar to $ 58,000 before printing a higher lows at around $ 47,000 and a continuation of the uptrend to new record highs.
“For now, the general bull market structure remains intact. Barring a few unforeseen circumstances in the macro context, I believe Bitcoin is still optimistic. “
BTC / USDT daily chart | Source: Altcoin Sherpa
While the crypto strategist remains optimistic about BTC in the long term, he doesn’t expect the leading cryptocurrency to see major moves anytime soon.
“So what do I think of the price development of Bitcoin in the next few weeks? I think BTC has to accumulate. I mean, after the asset has experienced a sharp downward move, it will take some time to hit the bottom. In general, the following applies: the greater the downward movement, the longer the consolidation phase. “
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Bitcoin
KOL Altcoin Sherpa is pulling the closest route for BTC as it stayed below $ 50,000
A prominent analyst is planning the next step for Bitcoin as the benchmark cryptocurrency continues to trade below $ 50,000.
In one Video Newly, Altcoin Sherpa says it is exploring two ways that could determine Bitcoin’s (BTC) long-term trend.
“It is almost certain that Bitcoin will hit a lower high above the $ 70,000 region, and then when it hits a lower low I will prefer the bears. If it comes down to a higher low, I’ll join the cops. “
According to Altcoin Sherpa, he expects Bitcoin to soar to $ 58,000 before printing a higher lows at around $ 47,000 and a continuation of the uptrend to new record highs.
“For now, the general bull market structure remains intact. Barring a few unforeseen circumstances in the macro context, I believe Bitcoin is still optimistic. “
BTC / USDT daily chart | Source: Altcoin Sherpa
While the crypto strategist remains optimistic about BTC in the long term, he doesn’t expect the leading cryptocurrency to see major moves anytime soon.
“So what do I think of the price development of Bitcoin in the next few weeks? I think BTC has to accumulate. I mean, after the asset has experienced a sharp downward move, it will take some time to hit the bottom. In general, the following applies: the greater the downward movement, the longer the consolidation phase. “
Join Bitcoin Magazine Telegram to keep track of news and comment on this article: https://t.me/coincunews
Follow the Youtube Channel | Subscribe to telegram channel | Follow Facebook page
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