In Bitcoin and altcoins, there was a sharp decline last week as investors expected further rises.
An increase started yesterday evening in BTC, which was circulating around $ 27,000 for about 1 week.
This rise brought BTC above $29,000, while Ethereum (ETH) also rose above $ 1,900.
While investors who came out of a tough bear market are now waiting for the bull market to come, the crypto money analyst named Trader Tardigrade said that investors have come to the signal that the bear market is over in BTC.
Stating that Bitcoin clings to a solid support above the $27,000 level after days of downward trend, and finally exited the downward trend, the analyst stated that BTC has been consolidating above the upper trend line for a while and gaining momentum to throw off the remaining selling pressure.
Pointing out that this is a clear sign of a downtrend reversal, the analyst said that an expanding triangle pattern has formed in BTC.
“Bitcoin bear market ends with an expanding triangle.
BTC formed a consolidation above the upper trendline (green circle) to shed any remaining selling pressure and then it will rise.”
#Bitcoin bear market ends with a expanding triangle.
After building up a consolidation above the upper trendline(green circle), in order to absorb all the remaining selling pressure, $BTC will take off. #BTC #Crypto pic.twitter.com/2lZDS77OsZ— Trader Tardigrade (@TATrader_Alan) April 26, 2023
*Not investment advice.
