Ali Martinez, one of the well-known analysts of the cryptocurrency world, shared his predictions about the performance of the Bitcoin price in the coming period.
According to Martinez, BTC price is currently forming a bottom and could climb to $66,000 with a potential upside of 6% if it manages to make a candle close above $62,200.
However, in his recent statement, the analyst said that approximately 72% of all accounts on Binance are in a long position.
Additionally, Martinez announced that he uses RSI data to make moves in the BTC price and find bottoms.
On the other hand, at the time of writing this article, the BTC price remains suppressed. The world's largest cryptocurrency is currently traded at $61,545 and has lost approximately 5% of its value in the last week. Allegations that the German government was selling BTC and the US government's start to move previously confiscated Bitcoins were also effective in the loss of value.
However, the BTC price has experienced a relative recovery in the last day and has increased by 1.36%.
*This is not investment advice.