Analyst Who Predicted Bitcoin’s V-Shaped Reversal at $3,700 Is Bullish

Bitcoin will trade above $11,000 within the next two weeks, according to the analyst’s interpretation of the chart. Chart by @BTC_JackSparrow (Twitter handle), from TradingView.comMore recently, he asserted that there’s a good likelihood Bitcoin will undergo an “inverse $6,000 capitulation” if BTC holds $10,000.

The analyst wrote in Bloomberg’s July Crypto Outlook that the increase in the usage of Bitcoin implies a move to higher prices: “The number of active Bitcoin addresses used, a key signal of the 2018 price decline and 2019 recovery, suggests a value closer to $12,000, based on historical patterns. Featured Image from Shutterstock Price tags: xbtusd, btcusd, btcusdt Charts from TradingView.com Analyst Who Predicted Bitcoin's V-Shaped Reversal at $3,700 Is Bullish

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