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Technical expert Tony Severino Has warned that the Bitcoin/Vix is not as bullish as market participants may believe. Instead, the expert revealed that the current indicators point to the flagship Crypto, which is located in a bear market.
Bitcoin/Vix points to a Bears market: Analyst
In one XSeverino warned that the Bitcoin/Vix is not bullish, because some crypto influencers may paint it. He noted that its technical analysis suggests that the current signals are what market participants tend to see Bitcoin Bear -Markets. However, the expert noted that the month is not yet over, which suggests that these indicators can still become bullish.
Severino previously emphasized various reasons why he is no longer bullish on Bitcoin and other crypto assets. At that time he referred to the graph of BTC, which, based on the Elliott Wave theory And other technical indicators showed that the flagship Crypto probably went into this market cycle.
In the midst of the warning from Severino, crypto analysts such as Saeed have offered a more bullish outlook for Bitcoin. Saeed stated that this correction is just one Healthy retracement And that the wider trend of the flagship Crypto is still bullish. The analyst emphasized $ 85,000, because the Bitcoin level must break to reach new highlights.
The macro side currently also seems to be bullish for Bitcoin. The newest CPI and PPI inflation data, which were released, came to lower than expectations, so that the hope for a speed of the Federal Reserve was quickly reduced. According to a recently report, Boston Fed President Susan Collins also insured that the US central bank is ready to stabilize the market if necessary.
With the US President Donald Trump’s rates Stong, the American Fed may soon have to intervene, what Bullish is for Bitcoin and other crypto assets, because there will be more liquidity.
Bullish Technical Analysis for BTC
In a recent X post, Crypto analyst Titan from Crypto It revealed that Bitcoin forms an inverted head and shoulders pattern, although it still seems like a clean retest. He noted that if this pattern takes place, the flagship Crypto could reach $ 125,000 this year, which marks a new of all time (ATH).
In the meantime, Crypto analyst reveals Capital that Bitcoin develops another higher layer on the relative strength index (RSI) and at the same time forms lower lows on the price. He noted that BTC formed during the cycle Bullish Deviations Like this on some occasions. This is positive for the flagship crypto, because every divergence always preceded reversations at the top, which indicates that BTC could soon come to the top again.
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At the time of writing, Bitcoin Price acts according to around $ 83,400, an increase of more than 3% in the last 24 hours, according to facts Van Coinmarketcap.
Featured image of Pexels, Graph of TradingView