On Thursday, prominent cryptocurrency analyst Ali Martinez shared insights on Bitcoin’s (CRYPTO: BTC) potential price movements.
What Happened: The analyst urged his followers to monitor the $74,000 level closely. Sharing a weekly Bitcoin-Tether (CRYPTO: USDT) chart, he noted that losing this key support could indicate a “potential trend shift.” He noted that such a shift would be the first one since January 2023.
A sell signal occurred during the bearish trend in 2022, while a buy signal marked the start of a strong uptrend in early 2023, according to the shared chart.
Between January 2023 and now, Bitcoin has surged from $16,625.08 to over $80,000, marking a nearly 390% gain during this period.
Full story available on Benzinga.com