Analytics Firm: “Get Ready, Bitcoin Is Poised to Upset the Bears!” – Announces End of June Price Target!

Bitcoin (BTC), Ethereum (ETH) and altcoins have been on the offensive again in the last 24 hours, while BTC continues to push for a new ATH. Bitcoin, which is very close to its previous ATH of $109,000, has risen above $105,000, and analysts say the rise will continue. At this point, analysts at crypto analysis platform Swissblock stated that Bitcoin is unlikely to decline. Stating that the Bitcoin Fundamental Index (BFI) data points to a continued rise for BTC, analysts argued that there are no signs of a downward trend. Stating that there is a lot of talk about the risk of a double top regarding the BTC price, Swissblock said that despite these talks, the upward force has not been broken and BTC’s recent movements have eliminated the risk of a double top. A double top formation indicates that prices are about to switch from an uptrend to a downtrend. Noting that since August of last year, BFI has remained intact regardless of price movements, Swissblock said this is a sign that on-chain bullish sentiment continues. “There is a lot of talk about a possible double top as BTC struggles to break ATH. But the BFI tells a different story for Bitcoin: there are no signs of a bearish reversal. If this were a true double top, the BFI would break and there would be a sharp drop to the downside. Even during the February-March pullback, the BFI remained neutral, never falling into weakness. On-chain durability continues intact. Bears: Not this time, you have to wait.” Additionally, crypto analyst Timothy Peterson also added that he expects Bitcoin to reach at least $115,000 by the end of June. *This is not investment advice. Continue Reading: Analytics Firm: “Get Ready, Bitcoin Is Poised to Upset the Bears!” – Announces End of June Price Target!

Source: BitcoinSistemi