U.Today - Technical analysis guru has shared an update on his , indicating that the world's leading digital currency may be gearing up for a significant upward movement. In a recent tweet, Martinez expressed confidence in Bitcoin's potential to reach not just one but two key price targets in the near future.
The focal point of Martinez's analysis revolves around the TD Sequential, a widely followed technical indicator that helps identify potential price trends on the crypto market. Just a day ago, the analyst alerted his followers to a critical buy signal on the 12H chart, coinciding with the formation of a bullish reversal doji candlestick pattern. The condition for this bullish signal to gain strength was that Bitcoin must maintain a price level above $29,800.
Bitcoin falls amid S&P 500 bearish reversal
As of the time of writing, Bitcoin's price hovers around $29,830, experiencing a marginal decline of 1.21% since the opening of the U.S. stock market trading session. Despite this minor pullback, the analyst's prediction indicates that the cryptocurrency may be on the brink of a considerable rally.BTC to USD by According to Martinez's recent tweet, the initial price target for lies at $30,600, suggesting upward potential of around 2.6% from its current price. However, he does not stop there. Martinez goes on to mention a possible second target of $31,300, which would represent a more substantial gain of nearly 5%.