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

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Thu, 20/07/2023 - 16:00
Bitcoin Price May Hit $31,300 Price Soon If This Prediction Comes True
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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.

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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.

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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.

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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%.

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