Glassnode’s founders claimed that Bitcoin is ready for a significant increase. Expert analysts stated in their explanations that there could be a rise in Bitcoin.
Rising Expectations for BTC
Glassnode co-founders Jan Happel and Yann Allemann argued via social media posts that Bitcoin is inclining towards a rise after the current market correction. However, they also emphasized that the correction process could continue in the short term.
Critical Formation for BTC
Using the Elliot Wave Theory in their analysis, analysts predict that Bitcoin is within a rising wedge formation, and after the completion of this formation, prices may move upwards. They also point out that three important daily moving averages (DMA) give positive signals and suggest a potential rise for Bitcoin.
Useful Information for Readers
It is important for investors to consider analysts’ predictions regarding Bitcoin market movements for determining their strategies.
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