Fundstrat analyst: Bitcoin is likely to bottom in coming months

time:2022-02-03 09:00 source:Internet

On February 3, a technical analyst at Fundstrat said that Bitcoin is likely to bottom in the next few months. Bitcoin, which is down about 50% after hitting an all-time high in November, has stabilized recently. According to a pricing model tracked by Fundstrat’s Mark Newton, Bitcoin’s low is “very likely” to come in the spring. He warned against being bullish for now. "The small rebound in the past two weeks may not be enough to expect a new mid-term rally has begun," Newton said, adding that among the key technical levels to watch, Bitcoin's breakout above $40,000 would be a big move for bulls. Very important. He also said that if Bitcoin falls below $35,511, it will further test $32,950, about the intraday low on Jan. 24.

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