Veteran Analyst Reveals Most Important Price Level for Bitcoin Based on Whales’ Buying Pattern
Cryptocurrency analyst Ali Martinez shared the levels he considers important for Bitcoin (BTC) in his statement.
Ali Martinez, one of the important analysts of the cryptocurrency market, made a statement about his expectations for Bitcoin in light of the recent developments.
Martinez also touched on the price levels he considers important regarding Bitcoin, which is trading at $63,551 at the time of writing.
According to the analyst, when the purchasing patterns of new cryptocurrency whales are examined, the $63,450 level is of critical importance.
On the other hand, when the behavior of users on the cryptocurrency exchange Binance is examined, he stated that the $ 55,450 level is important.
Thirdly, the analyst stated that the $44,400 level is of critical importance when examining the purchasing and mining activities of Bitcoin miners.
Finally, Ali Martinez said that in a truly severe bear market scenario, the $25,000 level is noteworthy according to long-term investors’ buying patterns.
In addition, Martinez claimed that the BTC price is trading in a parallel channel on the lower time frame charts. According to the analyst, if the BTC price manages to hold the $63,500 level, a jump to $64,200 or even $64,800 could occur. However, the analyst said that if the $63,500 level is broken, a drop to $62,800 may be on the horizon.
*This is not investment advice.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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