CandleFocus Analyst explains why not short Bitcoin right now
2024-10-20
Author: Content Editor
The analyst in the video explains that shorting Bitcoin is not a good idea at the moment. They suggest that Bitcoin will continue to increase in price based on indicators and a bullish breakout from a seven-month downtrend channel. The analyst is looking at a key level between $72,000 and $73,800 as a likely target for Bitcoin's price. However, if Bitcoin drops below $64,115, it could invalidate this analysis and potentially send Bitcoin back into a downtrend. Other bullish predictions have been made by analysts, and an altcoin bull market is said to be starting, creating opportunities for investors. It is important to remember that the market is volatile and even experienced analysts can make mistakes.
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