Crypto trading expert says Bitcoin is on track to revisit $45,000 or even $50,000.
Bitcoin (BTC) is back up after a few days in the red, alarming investors. The great recovery of the first cryptocurrency saw the price rise above the crucial levels of $40,000. This is great news for investors, as industry insiders fear that a dip below $38,000 could lead to Bitcoin dropping to $32,000 and even further below the $30,000 mark. However, this did not happen, and once again, BTC was able to show its strength, to the point of driving the price above $41,700.
Cryptocurrency trading expert Ali Martinez predicted that after the daily close of the asset above $40,800, it indicates that BTC is in the process of revisiting $45,000 and could reach $50,000 in the near future.
Ali Martinez previously stated:
“Bitcoin is trading at the lower boundary of the parallel channel while TD Sequential is providing a buy signal on the daily chart. BTC must break the $40,800 level for a chance to rise to $45,000 or even $50,000. A close below $39,400 could invalidate The hypothesis is bullish and leads to a drop of up to $30K.”
Bitcoin Could Get Interesting at $42,000
Meanwhile, fellow analyst Michael van de Poppe thinks so Bitcoin is on an uptrend and you expect it to continue rising for at least a week or two.
Currently, Bitcoin is trading at $41,923, up 1.07% and 1.75% over the past week, according to data from CoinMarketCap.
The total market capitalization of Bitcoin is $797.28 billion, with an overall market dominance of 41.1%.
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