A widely followed crypto analyst says that the flagship crypto is showing signs of a bull run.
Crypto trader Ali Martinez tells his 69,600 followers on the social media platform X that the Bitcoin (BTC) bull-bear market indicator is showing bullish signals.
“Since early August, the Bitcoin bull-bear market indicator has been oscillating between bearish and bullish. Now, it has switched back to bullish again!”
Looking ahead, the analyst thinks BTC’s next resistance could be as high as $66,000.
“If Bitcoin can maintain support at $60,365, the next key resistance levels to watch are $64,045 and $66,250!”
Furthermore, the analyst says something special will happen if BTC reaches $61,900.
“$69.51 million will be liquidated if Bitcoin rebounds to $61,900!”
Beyond that, the analyst and crypto trader points out that big Binance accounts are going long on BTC.
“63.34% of the top trader accounts in Binance are going long on Bitcoin!”
BTC is worth $61,414 at time of writing, just south of Martinez’s $61,900 liquidation price point.
Earlier this week, Martinez also said that BTC is still in the early stages of its post-halving bull cycle, noting that the digital assets industry tends to climb after the stablecoin Tether (USDT) is minted on a large scale.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur 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.
Featured Image: Shutterstock/Warm_Tail
