Renowned crypto analyst Ali Martinez shared his thoughts on Bitcoin's future price and made predictions for altcoins.
Ali Martinez’s Bitcoin Prediction
According to the analyst, BTC’s current price action is essentially noise that should be ignored. Martinez believes that BTC may actually be forming a 'Cup and Handle' pattern, placing the long-term bullish target for BTC between $194,000 and $352,000.
Current Price Action Analysis
The analyst highlighted that Bitcoin had one of its best Septembers in history. Historically, when BTC closed September in the green zone, it made even bigger gains in the last three months of the year. However, it is important to remember that past movements are no guarantee of future movements.
Altcoin Predictions
Speaking about altcoins, Martinez mentioned that Ripple whales bought 470 million XRP in the last 10 days. The analyst provided a bearish outlook on one altcoin, noting that the TD Sequential indicator for Cardano (ADA) is giving a bearish signal on the daily chart, which could potentially mean a short-term correction.
Ali Martinez sets high long-term targets for Bitcoin while continuing to analyze other important altcoins. Regardless of predictions, investors should remember that past movements are not a guarantee of future performance.
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