Crypto NewsAnalysisAnalyst Evaluates Bitcoin: "I Wouldn't Be Surprised If It Continues In This...

Analyst Evaluates Bitcoin: "I Wouldn't Be Surprised If It Continues In This Range For The Rest Of The Year"

Cryptocurrency analyst Pentoshi evaluated the price of Bitcoin (BTC) in his statement published on Twitter.

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A prominent cryptocurrency analyst and trader shared his views for Bitcoin (BTC) in 2023, suggesting that the world's leading cryptocurrency could be traded in a narrow range for most of the year.

Pentoshi, who has more than 681,000 followers on Twitter, says that BTC has made its first high topping (HH) since the all-time high (ATH) of around $69,000 in November 2021. The rising top is a bullish sign that indicates an uptrend.

The analyst explained his views as follows:

“The most positive development in this regard is that BTC has seen its first HH since ATH. I think it's hard to expect new lows with the recent market structure, so it's entirely possible that we're going to spend most of the year here between 20-32k.

The 32k level is also the lowest level for this chart to be invalidated.”

According to Pentoshi, Bitcoin could hover between $20,000 and $32,000 for most of 2023 unless it rises above or falls below these levels. Pentoshi adds that $32,000 is also the lowest price to invalidate the bearish scenario.

BTC price has been following a very stagnant course in the last hours and at the time of writing, it is trading at $ 28,036 with a decrease of 0.52% in the last 24 hours.

24-hour CoinMarketCap chart showing the change in BTC price during the day.

*Not investment advice.

Buradaki Yorumlardan Bildirim Al

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