A well-known analyst believes that Bitcoin (BTC) is still in a bullish phase, contrary to the prevalent sentiment predicting a market downturn.
The pseudonymous analyst Inmortal tells his 231,200 followers on the platform X that historically, Bitcoin often experiences a two-phase bull market.
The trader presents a chart indicating that the second phase of Bitcoin’s bull market could continue until the year’s end.
“Bull market – Stage two”
BTC.
Diving deeper, the crypto strategist outlines a potential trajectory for Bitcoin, suggesting that BTC might remain in a broad trading range for several months before a substantial upward movement that could lead to new all-time highs.
“Something like this.”
BTC.
According to the trader’s chart, he seems to imply that BTC will fluctuate between $90,000 and $76,000 until June, eventually surging to a new record high around $140,000.
As of now, Bitcoin is priced at $83,994.
Regarding Ethereum, Inmortal mentions that the native currency of the leading smart contract platform could see significant price increases after the ETH relative strength index (RSI) dropped into oversold territory on the three-day chart.
The RSI is a momentum indicator where values above 70 signal overbought conditions, while readings below 30 indicate oversold levels.
“Probably nothing”
ETH.
Looking at the trader’s chart, it appears that ETH tends to establish a significant bottom when its RSI approaches 20 on the three-day timeframe. Earlier this month, ETH’s three-day RSI fell to 25 as Ethereum’s price dropped to a 2025 low of $1,754.
Currently, ETH is trading at $1,987.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should conduct their due diligence before making any high-risk investments in Bitcoin, cryptocurrency, or digital assets. Please be aware that your transfers and trades are at your own risk, and any losses incurred 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.
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