A widely followed crypto analyst says that Bitcoin (BTC) could potentially be on the verge of a bullish move.
The pseudonymous trader Bluntz tells his 223,200 Twitter followers that Bitcoin is showing signs of a potential breakout.
Bluntz says his target is Bitcoin exceeding a price of $28,800.
“BTC now back into the range once again after taking out the upside and now downside, will be looking to buy pullbacks after the daily close targeting $28,800.
Was expecting more of a slow grind up but this move starting to look impulsive to the upside again.”
A little over a week ago when Bitcoin was trading at around $27,500, Bluntz warned that the leading crypto asset was flashing danger signs. On Wednesday, Bitcoin plunged to under $25,400, a level last reached in March. Bitcoin is trading at $26,572 at time of writing.
Bluntz’s bullish take on Bitcoin echoes the opinion of another pseudonymous trader, Credible Crypto. Credible Crypto tells his 340,600 Twitter followers that the flagship digital asset has bottomed out after the fall that came amid the U.S. Securities and Exchange Commission’s (SEC) lawsuits against two leading crypto exchanges.
“Liquidity flush target one was met and tapped perfectly followed by a strong move to the upside right after back-to-back SEC lawsuits against Binance and Coinbase.
If panic-driven liquidations were going to occur, that would have been the perfect time for a flush to play out, leading me to believe that our bottom may be in and lower targets will not be met.”
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