Post
Topic
Board Bitcoin Discussion
Re: Short term trend of Bitcoin currently
by
Fivestar4everMVP
on 29/06/2024, 19:43:03 UTC
Currently, Bitcoin's short-term trend remains bearish. It has yet to confirm any bullish trend reversal. Crypto analyst Josh said in his latest analysis that Bitcoin is still showing a short-term bearish signal. He also said Bitcoin has seen a repeat of past price movements.Analyst Josh checked the Bitcoin chart, he found that the DXY (U.S. Dollar Index) was trending higher, making higher lows and higher highs, indicating a bullish trend for the DXY. Since Bitcoin was around $67,000. When DXY trends upward, it usually means bearish momentum for Bitcoin and vice versa.
I was actually discussing the current situation of the crypto market; and bitcoin in particular with a friend of mine who's also into crypto, and he was of the opinion that the current downturn in the price of bitcoin is actually a good thing, he said that the further down that the price of bitcoin goes, the higher it will pump in the coming bull season, I personally did not believe him, but he gave me some really convincing analysis which was really to hard not to believe to be honest, I cant go into details with the analysis here, but if every thing he said, and his prediction is to be true, then we all should expect the price of bitcoin to be back above $70k by the ending or August and or by the beginning of September, and from there; by October ending, we should be entering a full fledged bull run.

So, we all should hold our bags tight, if you have extra funds, wait and buy more bitcoin as prices drops further into the $55k, $50k range, may not get this low but it's a possibility right now.