Recent Quotes View Full List My Watchlist Create Watchlist Indicators DJI Nasdaq Composite SPX Gold Crude Oil EL&P Market Index Markets Stocks ETFs Tools Overview News Currencies International Treasuries Bitcoin price prediction: analyst says short-term trend is bullish, targets $26K By: Invezz August 11, 2022 at 11:57 AM EDT Bitcoin (BTC/USD) has traded up by more than 7% this past week, with positive action seen following US CPI data for July helping bulls break to a two-month high above $24,930.BTC price price – short term bullish trendWhile the BTC/USD pair has pared some of the intraday gains and currently trade near $24,560, Marcus Sotiriou of digital asset broker GlobalBlock believes the lower inflation readings for July year-over-year at 8.5% could count for bullish sentiment across risk markets.According to the analyst, cryptocurrencies and stocks could ride the positivity and see fresh gains. Encouragingly for bulls, the BTC/USD pair recorded a daily high near $25,000, which Sotiriou says could indicate a potential short-term bullish trend.For Bitcoin, the analyst says fresh upward impetus could allow for a breakout above $26k.He told Invezz in emailed comments:In my opinion, the fact that inflation has declined will give markets some breathing room over the next month or so, as we have an indication that inflation could have peaked. This is also the first bit of good news regarding the macro economy in months, so I think it will be well received, and allow Bitcoin to break above $26,000 in the following weeks.”Crypto analyst Rekt Capital also points to a potential upside continuation, especially if bulls hold above the retested 200-week moving average. The main resistance area the analyst is looking at is around $24,700.#BTC has successfully retested the 200-week MA as support and has enjoyed some continuation to the upsideIn doing so however, $BTC has revisited the same resistance price had rejected from a few weeks priorRed is the resistance to beat#Crypto #Bitcoin pic.twitter.com/Nq41sfo9JF— Rekt Capital (@rektcapital) August 11, 2022The post Bitcoin price prediction: analyst says short-term trend is bullish, targets $26K appeared first on Invezz. Related Stocks: Bitcoin (Bitstamp) Bitcoin Composite Data & News supplied by www.cloudquote.io Stock quotes supplied by Barchart Quotes delayed at least 20 minutes. By accessing this page, you agree to the following Privacy Policy and Terms and Conditions.
Bitcoin price prediction: analyst says short-term trend is bullish, targets $26K By: Invezz August 11, 2022 at 11:57 AM EDT Bitcoin (BTC/USD) has traded up by more than 7% this past week, with positive action seen following US CPI data for July helping bulls break to a two-month high above $24,930.BTC price price – short term bullish trendWhile the BTC/USD pair has pared some of the intraday gains and currently trade near $24,560, Marcus Sotiriou of digital asset broker GlobalBlock believes the lower inflation readings for July year-over-year at 8.5% could count for bullish sentiment across risk markets.According to the analyst, cryptocurrencies and stocks could ride the positivity and see fresh gains. Encouragingly for bulls, the BTC/USD pair recorded a daily high near $25,000, which Sotiriou says could indicate a potential short-term bullish trend.For Bitcoin, the analyst says fresh upward impetus could allow for a breakout above $26k.He told Invezz in emailed comments:In my opinion, the fact that inflation has declined will give markets some breathing room over the next month or so, as we have an indication that inflation could have peaked. This is also the first bit of good news regarding the macro economy in months, so I think it will be well received, and allow Bitcoin to break above $26,000 in the following weeks.”Crypto analyst Rekt Capital also points to a potential upside continuation, especially if bulls hold above the retested 200-week moving average. The main resistance area the analyst is looking at is around $24,700.#BTC has successfully retested the 200-week MA as support and has enjoyed some continuation to the upsideIn doing so however, $BTC has revisited the same resistance price had rejected from a few weeks priorRed is the resistance to beat#Crypto #Bitcoin pic.twitter.com/Nq41sfo9JF— Rekt Capital (@rektcapital) August 11, 2022The post Bitcoin price prediction: analyst says short-term trend is bullish, targets $26K appeared first on Invezz. Related Stocks: Bitcoin (Bitstamp) Bitcoin Composite
