Bitcoin Comment from Analyst: "This Level Must Be Exceeded To Talk A Bull Scenario"

Cryptocurrency analyst Trend Rider shared his views on the current view of Bitcoin price with his followers in his post on Twitter.

Bitcoin price managed to stay above the key $25,800 support level, according to cryptocurrency analyst Trend Rider, who shared his personal short-term update on Twitter.

However, according to the analyst, BTC is facing resistance from the Rider Band, a technical indicator that monitors the trend and volatility of the market.

"Bitcoin Price Needs to Rise Above $27,500 for a Bull Scenario to Be Discussed"

Trend Rider said the Rider Band is narrowing, which means a major price action is imminent.

He said it was great to see Bitcoin retrace $27,000, but warned that the price should either break above the $27,500 band or show some bounce signals before considering bullish scenarios in this time frame.

 

*Not investment advice.