The article discusses the analysis of a pseudonymous analyst, who believes that Bitcoin (BTC) is on the verge of entering into a bull market. According to the analyst, BTC's recent price increase above $69,000 signifies the end of its bearish trend that started in March. The analyst suggests that BTC is now trying to turn its previous resistance level into support, and a successful retest could lead to further upside and a new bull market for Bitcoin. The analyst also mentions that a confirmed Bitcoin bull market could have positive effects on the broader cryptocurrency market.
- Content Editor ( dailyhodl.com )
- 2024-10-23
Analyst Says Bitcoin Multi-Month Downtrend Is Over, Hints at Renewed Upside for BTC