Header: Bitcoin Analyst Upbeat on Ongoing Bull Market Amid Market Volatility
Opening: A respected analyst asserts that Bitcoin (BTC) is maintaining its bullish trend despite growing apprehensions surrounding a potential market downturn. Inmortal, a prominent voice in the cryptocurrency sphere, shares valuable insights with a large audience, highlighting predictive charts and historical trends.
Expert View: With a substantial following of over 231,000 on the social platform X, Inmortal presents a theory based on Bitcoin’s past performance, outlining a customary two-phase bullish cycle. He affirms the imminent arrival of the second phase, projecting its continuation until the close of the year. His resolute stance, encapsulated in the phrase “Bull market – Stage two BTC,” underscores his positive projections for Bitcoin’s trajectory.
Market Landscape: Presently valuing around $83,994, Bitcoin sits within a projected trading range of $76,000 to $90,000 according to Inmortal’s analysis. The cryptocurrency is expected to linger in this band for multiple months before potentially rallying to a new peak surpassing $140,000. These estimates surface amidst general market instability and conflicting signals from alternative digital assets.
Implications: In addition to Bitcoin, Inmortal draws attention to Ethereum (ETH), highlighting the likelihood of substantial price surges for its native token. This view is buoyed by Ethereum’s relative strength index (RSI) dipping into oversold territory on the three-day chart. Traditionally, an RSI above 70 signals overbought conditions, while below 30 indicates oversold. Ethereum’s current RSI of 25, following a depreciation to a 2025 low of $1,754, hints at a promising opportunity for an upward price momentum. Presently, Ethereum is trading at approximately $1,987.
Wrap-Up: In a nutshell, the Bitcoin outlook is cautiously positive, backed by expert perspectives hinting at a potential significant surge. Investors are urged to keep a close eye on market dynamics, considering the historical pattern of a two-phase bull market. Similarly, Ethereum signals a plausible opening for buyers, albeit with a note of caution due to the intrinsic volatility in the crypto realm. Before engaging in any transactions, investors are advised to conduct in-depth research and evaluate their risk tolerance levels carefully.
