Some Crypto Twitter Community Members Are Bullish on BTC

• The Twitter (NYSE:) user Samson Mow has a medium-term bullish outlook on BTC.
• BTC is currently trading above the $19k mark.
• A bullish head and shoulders chart pattern is present on BTC’s 4 hour chart.

The twitter user @Excellion (Samson Mow) tweeted a bullish statement on Twitter today relating to the crypto market leader, (BTC).

Mow posted that the crypto market king “will be making a big move up in the coming weeks.” In his tweet, Mow shared another tweet posted by @w_s_bitcoin.

Most of you who are building up cash positions will miss the #bitcoin bottom (which may have already come in June) and will end up buying in higher, with an average price likely above where we are now. Just watch. The greed will get to you and then the FOMO will come soon after.

— Wicked Smart Bitcoin ∞/21M (@w_s_bitcoin) September 23, 2022

BTC’s current price is just above the $19k level at $19,011.62 according to the crypto market tracking website, CoinMarketCap. The website also shows that BTC’s price is 1.27% lower than the day prior and that the last week has not been in favor of the largest crypto by market cap. At the time of writing, BTC’s price is down 4.17% over the last 7 days.

4h chart for BTC/USDT (Source: CoinMarketCap)

A bullish inverse head and shoulders chart pattern has formed on the 4 hour chart for BTC/USDT. Whether or not this pattern will play out will depend on whether or not bulls are able to lift BTC’s price above the resistance at $19.6k.

The Relative Strength Index (RSI) line is currently sloped negatively towards oversold territory, but is still positioned above the RSI SMA line – which reduces the degree of the bearish sentiment represented in the 4 hour RSI on BTC’s chart.

Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.

The post Some Crypto Twitter Community Members Are Bullish on BTC appeared first on Coin Edition.

See original on CoinEdition

Source link