Main navigation

Bitcoin Price May Hit $31,300 Price Soon If This Prediction Comes True

Thu, 07/20/2023 - 16:00
article image
Gamza Khanzadaev
Top analyst Ali Martinez names key targets for Bitcoin right now
Bitcoin Price May Hit $31,300 Price Soon If This Prediction Comes True
Cover image via

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.

Read U.TODAY on
Google News

Technical analysis guru Ali Martinez has shared an update on his Bitcoin price prediction, 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 BTC 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.

If Bitcoin (BTC) Stalls at $30,000, Here's What May Happen to Economy: Mike McGlone

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 CoinMarketCap

According to Martinez's recent tweet, the initial price target for Bitcoin 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%.

article image
About the author

Financial analyst, trader and crypto enthusiast.

Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management.

He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.