Recent market analyses of the Bitcoin (BTC) price trajectory, the leading cryptocurrency, present a mixed bag of sentiments. Ali Martinez, a popular crypto analyst, sounded a cautionary note as he observed a sell signal on the Bitcoin price chart. Moreover, he hinted at a potential slump for BTC.
Will Bitcoin Plunge Below $65,500?
In a recent post on X, Martinez highlighted the emergence of a sell signal on the 12-hour chart, courtesy of the TD Sequential indicator. Furthermore, he underscored the importance of exercising caution, particularly emphasizing the significance of Bitcoin’s ability to maintain support above the $65,500 level. This implies that if BTC extends below this threshold, a massive crash could ensue.
Contrary to Martinez’s cautious stance, Willy Woo, another seasoned analyst, offered a more optimistic perspective on the Bitcoin price trajectory. Woo pointed out a noteworthy milestone in Bitcoin’s monetary inflation rate, which has now dipped below that of gold.
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