Analyst predicts Bitcoin rally towards $66,000 soon

The Bitcoin (BTC) market has seen a sharp decline in recent days, hitting a low of $60,700 yesterday following a significant move by the United States government into the cryptocurrency. However, a renowned crypto analyst has recently shared a prediction that the largest cryptocurrency’s price will rise soon.

In his technical analysis, cryptocurrency expert Ali Martinez noted that Bitcoin currently appears to be forming a bottoming pattern called “Adam and Eve.”

According to the analyst, given this scenario, Bitcoin is signaling a rise in its price that could take it towards the $66,000 level. Martinez’s analysis was shared on June 27 in a post on X.

“Bitcoin appears to be shaping an Adam and Eve bottoming pattern, signaling a potential 6% rally towards $66,000 if $BTC can maintain a nearby candlestick above $62,200!” the analyst wrote.

#Bitcoin seems to be shaping an Adam & Eve bottoming pattern, signaling a potential 6% rise toward $66,000 if $BTC can maintain a candlestick close above $62,200! pic.twitter.com/ebOUxgBqVj

— Ali (@ali_charts) June 27, 2024

At the time of publication, the price of Bitcoin was quoted at US$62,244.04, up 0.9% in the last 24 hours. In its weekly development, the largest cryptocurrency on the market showed a significant retraction in its price, devaluing 6.2% in the last seven days.

It is worth remembering that the renowned analyst revealed in a recent forecast four cryptocurrencies that have a potential imminent price rise on the horizon. The analysis anticipated a significant price recovery for Bitcoin and market giants Solana, Cardano and Shiba Inu. In his technical analysis, released on June 25, cryptocurrency expert Ali Martinez highlighted the potential upward breakout in the prices of altcoins Solana (SOL), Cardano (SOL), Shiba Inu (SHIB), as well as Bitcoin soon.

Disclaimer:

The views and opinions expressed by the author, or any person mentioned in this article, are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading cryptocurrencies carries a risk of financial loss.