[Analysis] "Indicators Still Show Bull Market... Rally Possible if Short-term Factors are Resolved"
JOON HYOUNG LEE
Summary
- An analysis suggests that if short-term uncertainties like the trade war are resolved, a rally in Bitcoin is possible.
- Many indicators still suggest a bull market, and there has been no large-scale profit-taking in the past, it was reported.
- It was stated that if short-term uncertainties are resolved, a strong upward rally is likely to follow.
An analysis suggests that Bitcoin (BTC) could see a rally if uncertainties such as the trade war are resolved.
Crypto Dan, a contributor to CryptoQuant, stated on the 20th, "Some are concerned that this (Bitcoin) correction could be the beginning of a bear market," but "many indicators still suggest that the bull market is not over."
Crypto Dan said, "Looking at the current situation, there has been no large-scale profit-taking or stop loss movements since the end of last year," and "the decline in Bitcoin is about 30%, similar to a typical adjustment range." He added, "From a macroeconomic perspective, if short-term uncertainties like the trade war are resolved, a strong (upward) rally is likely to follow."
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
