Bitcoin A top trader who correctly predicted that the 2018 bear market for (BTC) had bottomed believes the crypto king has officially entered bull territory.
The analyst, pseudonymous Bluntz, told his 225,000 followers on social media platform told.
According to Bluntz, BTC rising above $27,000 shows that BTC is now in a bull market.
BTC is on the rise, invalidating this triangle structure. I think it’s time to break out of any downtrend.
NEWS CONTINUES BELOW
At the time of writing, Bitcoin is trading at $27,487.
Crypto strategist also rivals Ethereum (ETH) Avalanche(AVAX) is also followed closely. According to Bluntz, AVAX may be in a position to ignite rallies after charting a bullish market structure and losing more than 50% of its value this year.
I think this could go up significantly.
At the time of writing, AVAX was valued at $9.31.
Bluntz also says that many crypto assets printed a bullish engulfing candle last week. Traders keep an eye out for a bullish engulfing candle as it can indicate that an asset is preparing to reverse its downtrend.
Some solid weekly wraps across the board are looking very promising so far…