These Three Technical Analysts Are Bullish On BTC And Altcoins
Despite all the doom and gloom, there’s some bullish TA out there, believe it or not. Here are three technical analysts who see the glass half full on BTC and Altcoins.
Covered:
- Surprising Technical Analysis On BTC And Altcoins
- BTC And Altcoins Looking Bullish
Matthew Hyland On Bitcoin RSI
#Bitcoin 3-Day RSI attempting to breakout of the downtrend it has been in for over a month: pic.twitter.com/33EW5VjZ9t
— Matthew Hyland (@MatthewHyland_) May 23, 2022
As Bitcoin trader Matthew Hyland (a.k.a. Parabolic Matt) points out how the RSI (relative strength index) of Bitcoin is attempting to break out after a three month descent. This isn’t a super bullish bit of TA on its face — more like bull-ish — but it does point to somewhat of a bounce from a low. It’s not nothing, at least. However, Hyland also responded to a tweet from YouTube analyst Benjamin Cowen after posting this, and it draws some interesting parallels to profitable trades of crypto’s past.
I remember well… https://t.co/7kFZowMqwk
— Matthew Hyland (@MatthewHyland_) May 24, 2022
Recommended: Five Crypto Technical Analysts You Need To Follow
Overcome Crypto On Bitcoin Shorts
UPDATE $BTC TRIANGLE
Never trade these types of patterns. They are designed to wreck retail. Upside of the triangle got rekt, soon will be time to wreck the late shorters ?
Come to papa. #Bitcoin #BTC pic.twitter.com/oiPHygxWYV
— AZ (@OvercomeCrypto) May 24, 2022
Bitcoin trader Overcome Crypto was a bear back when Bitcoin was at 47k. It wasn’t a popular call at the time, but he rode the price down to below 30k. Suffice it to say. He did great on that trade. Though, despite all the negativity and many hopping on the shorting bandwagon, he’s not shorting Bitcoin at the moment. Even though many in the trader space are calling Bitcoin to fall as low as 19k (it’s 2017 bull run high), Overcome Crypto is telling people to meet him at 70k.
BTC And Altcoins: Stock Money Lizards On Altcoins
#Altcoins
Repeating patterns. Once more, there was a 50% drop after a descending triangle (like in 2018/2019) .After this drop, a massive bull run followed. Although macroeconomics are tough, chances are good for a bull run.#Altseason2022 #Ethereum #SHIB #FLOKI pic.twitter.com/dGwX4wfVZH
— Stockmoney Lizards ⚡️ (@StockmoneyL) May 24, 2022
A community of crypto traders, Stock Money Lizards are apparently feeling like the altcoin dip is presenting a great opportunity. As they point out, there was a similar 50% drop back in 2018 and 2019. As I pointed out recently, 2018 was a tough year for crypto, but that was also the case for stocks. 2019 saw a great improvement in the crypto and stock market alike. It’s worth keeping an eye on how altcoins react to improving macro, when and if ever it improves. Though, Stock Money Lizards seem pretty optimistic, “Although macroeconomics are tough, chances are good for a bull run.”
Recommended: Strong Bitcoin On-Chain Data Provides Needed Hopium
