Cryptocurrency expert and famous trader Javon Marks has made a bold move Climate prediction This goes against the current mood of the Bitcoin market, and the cryptocurrency asset is expected to make a significant return to the pivotal level of $72,000. These bullish predictions are made despite Bitcoin’s recent struggles, which have been marked by sharp price declines and broad-based unfavorable market trends.
Bitcoin is poised for a major rebound to $72,000
After failing to cross the $66,500 threshold last week, Bitcoin (BTC) is currently trading below the $62,000 support level, indicating that the cryptocurrency market is still quite erratic. However, many cryptocurrency analysts are confident that the downtrend will end soon, and expect a notable recovery in the coming days.
Javon Marks’ analysis suggests that Bitcoin’s recent decline may be coming to an end, based on several technical indicators and market factors such as the Relative Strength Index (RSI).
It also highlights the establishment of a bullish divergence pattern, which often precedes bullish market movements, and indicates important points. supports Levels remained steady between $56,000 and $60,000.
According to the expert, with BTC price holding steady with a higher low confirmed and the Relative Strength Index (RSI) setting a lower low, the asset has confirmed the validity of the bullish pattern. As a result, Javon Marks expects the price to rebound to $72,000 and possibly all-time highs if this pattern continues.
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Bitcoin (BTC), with price holding + confirming a higher low and its Relative Strength Index (RSI) at a lower low, has confirmed a bullish pattern that could indicate a recovery near $72,000, a continuation of which could set all-time highs.
The analyst also noted that the process could lead to a much larger phase of growth for cryptocurrency assets, a phase that will see a continued rise to unprecedented levels. So far, for Investors For traders hoping for a possible conclusion to BTC’s recent downtrend and a return to positive momentum, Javon Marks’ analysis provides a ray of light.
The perfect time to buy digital assets
As BTC is still seeing bearish momentum, so has popular cryptocurrency analyst and enthusiast Ali Martinez He confirmed This may be a good time to buy digital assets.
According to the expert, Bitcoin’s daily RSI has reached the oversold zone about 3 times in the past two years. as a result of, BitcoinThe price rose by 60%, 63% and 198% after each time the daily RSI reached the oversold zone.
Now, with crypto assets falling below the $62,000 level and the daily RSI in oversold territory again, Martinez believes this could be the perfect opportunity to buy the dip.
At the time of writing, Bitcoin is trading at $61,220, showing a decline of more than 6% in the past week. This decline extends to market capitalization and trading volume, which fell by 0.08% and 31%, respectively, in the past day.
Featured image from Adobe Stock, chart from Tradingview.com
