Traders say there aren’t many reasons to be bearish on Bitcoin By Cointelegraph

Spread the love


Traders say there aren’t many reasons to be bearish on Bitcoin

hit just shy of $50,000 in the past 24 hours, following news earlier this week that Tesla (NASDAQ:) had purchased $1.5 billion worth of the asset. Despite Bitcoin (BTC) rising more than 100% past its 2017 high near $20,000 over the course of the past few months, Cheds, a crypto analyst and trader on Twitter, thinks the scene remains bullish.

“I think many people are looking for a local top here, or perhaps reasons for one because the price has risen so far so fast,” Cheds told Cointelegraph. Cheds is CMT level I certified, which indicates a specific level of expertise in technical analysis.