If Bitcoin Reclaims $62K, Trader Sees 'Green Light For More Madness'
Portfolio Pulse from Khyathi Dalal
Crypto trader Cold Blooded Shiller expressed skepticism about Bitcoin reclaiming the $62,000 mark, suggesting it represents a bearish retest. However, he noted that surpassing this level could signal a rally. At the time of the article, Bitcoin was trading at $61,950, up 4.6%. Shiller's comments highlight the volatility and unpredictability of the crypto market, advising investors to take profits during bounces.
May 03, 2024 | 4:32 pm
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NEUTRAL IMPACT
Cold Blooded Shiller's skepticism about Bitcoin reclaiming the $62,000 mark suggests a bearish outlook, but also indicates a potential rally if this level is surpassed. Currently, Bitcoin is trading at $61,950, showing positive momentum.
Shiller's comments reflect a cautious but potentially bullish outlook for Bitcoin, depending on its ability to surpass the $62,000 resistance level. His analysis, combined with the current trading price close to this critical mark, suggests a neutral short-term impact as the market could move in either direction based on this pivotal price point.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100