Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Jurrien Timmer, director of global macro at Fidelity Investments, has spotted a double-bottom Bitcoin pattern.
Looks like a potential double-bottom is in the making for BTC and the related equities. pic.twitter.com/gzbVqdG7Pg
— Jurrien Timmer (@TimmerFidelity) March 1, 2022
The same applies to Bitcoin-linked equities that usually move in tandem with the largest cryptocurrency, according to Timmer.
A double bottom pattern usually indicates a bearish-to-bullish reversal, marking the beginning of a future uptrend.
As reported by U.Today, the crypto king recently came close to hitting the $45,000 level for the first time since Feb. 10.
Alex DovbnyaLast month, Timmer compared Bitcoin’s growth trajectory to that of tech giant Apple.
Back in October, the Fidelity exec forecasted that the Bitcoin price would eventually climb to $100,000.
Vladislav Sopov
Dan Burgin