Bitcoin is rising rapidly, says a popular cryptanalyst

Well-known cryptocurrency trader Bluntz believes that the main digital currency is finally in bullish territory, and all forecasts of BTC falling to $24,000 are unrealistic.

The expert believes that the rise of Bitcoin beyond $27,000 is proof that market participants are currently observing a strong bullish trend.

“Bitcoin is rapidly rising, destroying the triangular structure. It’s time to get rid of any bearish prejudices,” the expert noted.

Today, the price of Bitcoin is in the fork from $27,000 to $27,600, despite the fact that yesterday the coin was worth more than $28,000.

Bluntz also oversees Ethereum and Avalanche. He stated that the price of AVAX could rise after the coin lost more than 50% in value in 2023 and exhibited bullish market dynamics.

“AVAX has excellent weekly performance. We’ve hit the major lows and now we’re seeing weekly growth… I think that number could increase significantly,” Bluntz said.

And Bloomberg senior commodity strategist Mike McGlone believes that investors may not have taken the recent rise in the rate of the first crypto coin quite correctly, as there are alarming trends in the industry and a recession is predicted. The expert said that the price of Bitcoin is rising in parallel with other risky assets, “this could be a fake pump organized by large players to cover their short positions.”

At the same time, the key resistance level for Bitcoin is at $30,000, while “risks are approaching $10,000,” the analyst noted

What do you think about this?