Bitcoin at $62K 'great buy' before next surge, says fund manager
April 15, 2021. Summarized by summa-bot.
Compression ratio: 66.8%. 1 min read.
Bitcoin consolidating at near old highs provides a great buying opportunity, says Vailshire Capital's CEO.
Consolidation after fresh all-time highs means now is the time to buy BTC in "wildly bullish" conditions, argues Vailshire Capital.
525 Total views 1 Total shares Bitcoin (BTC) looked set to retest previous all-time highs on April 15 as a fund manager called a "great opportunity to buy. "BTC/USD 1-hour candle chart (Bitstamp).
Source: TradingviewCointelegraph Markets Pro and TradingView showed a 3. 3% daily comedown for BTC/USD taking aim at new support levels on Thursday. Bitcoin outlook "wildly bullish"After surging to nearly $65,000 on Monday, Bitcoin began to consolidate in a new range as the buzz around Coinbase's successful Nasdaq listing cooled. At the time of writing, the largest cryptocurrency traded at around $62,600, around $700 higher than March's record of $61,700This area, Vailshire Capital Management CEO Jeff Ross believes, should now set the scene for a support-resistance flip which if successful will allow BTC/USD to continue rising. "Healthy retest of previous consolidation wedge ceiling.
Source: Material IndicatorsThose upper levels have long been the focus of analysts, with one even describing them as "destiny" for the short term. Other on-chain metrics showed sustained engagement from investors across the board, with the total number of Bitcoin wallet addresses containing 0. 01 BTC or more passing 9 million for the first time.