10x Research CEO Markus Thielen, who knew about Bitcoin's decline to $ 38,000, shared a new analysis.
Referring to his January report in which he described the downward trend in Bitcoin as over and the 43,800 level as a critical breakout level that could quickly move it to 48,000, Thielen evaluated whether it was time to sell BTC in his new report.
The analyst, who stated in his other reports that February was in an upward trend and that 52,000 could be reached in his analysis, said that in February, according to historical data, there is a 70% probability that Bitcoin will rise.
Stating that the upward trend continues at this point, the famous analyst said that they received a new buying signal on February 10 and claimed that the rise in BTC will continue.
“Bitcoin reached our 48,000 target in a few days – should you SELL now?
On January 26, we wrote that we were no longer bearish and expected the almost month-long consolidation to be about to reverse.
We wrote that as of January 29, the downward wave (4) was completed and new peaks were coming.
In our note on February 5, we wrote that February was in an upward trend and according to our analysis, Bitcoin could reach 52,000. In February, based on historical precedents, there is a 70% probability that Bitcoin will show positive returns, with an average return of +8%.
In our note dated February 7, we defined the 43,800 level as a critical breakout level that “could quickly push Bitcoin to 48,000.”
And now, as our goals are being realized one by one, we received a new buying signal from our 'Trading Signals' on February 10.”
Bitcoin continues to trade at $47,900 at the time of writing.
🚀 Bitcoin reached our 48,000 target within days – should you SELL now?
On Saturday, February 10, we received a fresh buy signal from our ‘Trading Signals’
👇1-10) On January 26, we wrote that we were no longer bearish and expected that the nearly one-month-long consolidation… pic.twitter.com/LvmQMJvseE
— 10x Research (@10x_Research) February 12, 2024
*This is not investment advice.
