Bitcoin has been on a bit of a roll lately, climbing back above $58,000. One analyst thinks it could go even higher.
Bitcoin Could Hit $63,800
A popular crypto analyst, Ali Martinez, has spotted a pattern on the Bitcoin chart that suggests a potential breakout. He’s seeing an “ascending triangle” which is a technical analysis term that basically means Bitcoin is making higher lows and could be ready to break out of its current range.
If Bitcoin breaks through the $59,200 resistance level, Martinez thinks it could surge all the way up to $63,800. That’s a pretty big jump!
Sentiment Still Negative
However, Martinez also points out that Bitcoin’s “weighted sentiment” is still pretty negative. This basically means that people are still feeling a bit unsure about Bitcoin.
This negative sentiment could mean that Bitcoin might dip again before it makes its big move.
It’s important to remember that this is just one analyst’s opinion. The crypto market is super volatile, so anything could happen.
