Bitcoin On Cusp Of Advancing Higher, But There's A Catch, Says Crypto Analyst
Portfolio Pulse from Bibhu Pattnaik
Crypto analyst Ali Martinez predicts a bullish trend for Bitcoin (BTC) and Ethereum (ETH), with a temporary dip for BTC to around $33,000 before a breakout. He suggests the current BTC cycle might peak around October 2025. For ETH, Martinez cites a potential resistance at the $1,960 level, termed as a 'supply wall'.
October 29, 2023 | 2:34 pm
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NEUTRAL IMPACT
Ethereum faces a potential resistance at the $1,960 level, termed as a 'supply wall'.
The analyst's mention of a 'supply wall' for Ethereum at $1,960 suggests a potential resistance level that could impact its short-term price movement.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
Bitcoin is expected to experience a temporary dip before a bullish breakout, with the current cycle peaking around October 2025.
The analyst's prediction of a bullish trend for Bitcoin, despite a temporary dip, suggests a positive short-term impact on its price. The peak of the current cycle in 2025 also indicates a long-term positive outlook.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100