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Full credits for this video to NewsBTC who listed the info in this video on an article on their website:
https://www.newsbtc.com/?s=Analyst%3A%20Inverse%20Bitcoin%20Price%20Chart%20Points%20To%20Bitcoin%20Reaching%20%E2%80%9CAt%20Least%E2%80%9D%20%246%2C130
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Crypto tags:
#BitcoinNews #CryptoNews
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Transcript:
0:00:00 Analyst: Inverse Bitcoin Price Chart Points To Bitcoin Reaching “At Least” $6,130
0:00:07 This update is brought to you by “CoinCheckup News Updates” and was originally published on “NewsBTC”.
0:00:13 The entire crypto community of traders, analysts, and investors alike are all watching Bitcoin closely, as the digital asset reaches an important inflection point in its life as a financial instrument.
0:00:24 As traders seek to predict not only the direction of Bitcoin price, but the price target itself, oftentimes a chart will be turned upside-down to gain an unbiased and unfiltered look at support and resistance levels, as well as any patterns that may be playing out.
0:00:38 One particular analyst has flipped a high-timeframe Bitcoin price chart on its head, hoping to glean additional insight from it.
0:00:45 Bitcoin is close to putting the final nail in the bear market coffin, and is potentially entering either an accumulation phase or the beginning stages of a new bull trend.
0:00:54 With fear and panic still felt throughout the market, crypto investors are in disbelief.
0:00:59 The gain more confidence, traders take to charts in order to help to determine and predict price movements.
0:01:05 Occasionally, more advanced chartists will turn a price chart upside-down to try and remove any existing bias from the new perspective.
0:01:13 Related Reading | Sell in May and Go Away?
0:01:16 Prominent crypto analyst Josh Rager has shared such an inverse chart via Twitter, and on it clearly demonstrates powerful “support” at roughly $6,137.
0:01:26 The trader claims that from the looks of it, Bitcoin price is headed to “at least $6,130,” and that it would be hard to convince him otherwise.
0:01:35 At that level, the analyst expects Bitcoin to bounce at “support” around $6,000.
0:01:41 He further predicts that a pullback to $4,100 – the last level of powerful resistance Bitcoin broke through to spark a massive $1,000 early April rally – is possible if Bitcoin makes a correction before moving up further.
0:01:54 Thanks for watching this video!
If you wanna read the whole article you can go to CoinCheckup.com or go to: “NewsBTC”, who originally published this news update on their website.
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