A popular crypto strategist believes that king crypto Bitcoin (BTC) is gearing up for a massive rally in 2023. The pseudonymous analyst known in the industry as Inmortal tells his 189,800 Twitter followers that Bitcoin is flashing a trend reversal signal on the three-day chart. “Monster divergence on Bitcoin. It’s positive, but it isn’t a bottom signal. Price may continue to go down as the RSI [relative strength index] makes higher lows.” Source: Inmortal/Twitter The RSI is a momentum indicator that could signal a big shift in an asset’s trend.
Looking at the analyst’s chart, Bitcoin appears to be forming a bullish divergence, which suggests that buyers are starting to gain momentum even though BTC’s price continues to fall. Inmortal’s chart also shows that Bitcoin has ignited strong moves up after flashing the same signal in January 2019, October 2020 and July 2021. With BTC bulls gathering momentum, Inmortal believes that Bitcoin will launch an epic rally in 2023, mirroring BTC’s performance between March and July of 2019 when the king crypto surged from around $3,000 to $14,000. “We repeat this in 2023.” Source: Inmortal/Twitter In the short term, Inmortal sees Bitcoin bouncing toward the $17,500 level. “I would take it.” Source: Inmortal/Twitter At time of writing, Bitcoin is changing hands for $16,855, a 2.80% increase in the last 24 hours.
Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox Check Price Action Follow us on Twitter, Facebook and Telegram Surf The Daily Hodl Mix Check Latest News Headlines Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor.
Please note that The Daily Hodl participates in affiliate marketing. Featured Image: Shutterstock/urzine The post Crypto Strategist Says BTC Flashing Monster Bullish Signal – Here’s His 2023 Outlook appeared first on The Daily Hodl.
Source : [Crypto Strategist Says BTC Flashing Monster Bullish Signal – Here’s His 2023 Outlook](dailyhodl.com/2022/12/21/crypto-strategist-says-btc-flashing-monster-bullish-signal-heres-his-2023-outlook/) by Daily Hodl Staff - December 21, 2022