Famous analyst Will Clemente shared his predictions about the price chart of Bitcoin (BTC).
Will Clemente tweeted that he shared his views on the price of Bitcoin, which has risen above $ 20 thousand again. In his tweet, he listed 4 items that could cause Bitcoin’s rise.
Bitcoin Chart by Analyst Will Clemente
Will Clemente, on his Twitter account, marked the critical points on the Bitcoin graph and said why it should be on the rise.
In his post, the analyst states that the unexpected correction in the latest Bitcoin will appear in a similar way in the future.
Think market is underweight BTC
– Several weeks of open interest with negative funding and backwardation engulfed in 1 candle
– Successful test of demand in Coinbase orderbook
– BTC dominance bouncing off 2018 support
– Commodities rolling over, CPI likely lower than expected pic.twitter.com/pisef1hiND
— Will Clemente (@WClementeIII) September 10, 2022
Negative funding and withdrawals of Bitcoin futures showed how much Bitcoin derivatives were selling. With the emergence of purchasing power, there was a slight short-term squeeze that caused Bitcoin to climb above $21,000 in just one day.
Will Clemente also lists why Bitcoin should rise as follows; The successful test of demand on the Coinbase order book is the lower-than-expected BTC price, commodity prices and CPI rates approaching support in 2018.
The price of Bitcoin (BTC), which has grown by 1.6 percent in the last 24 hours, has increased by close to 10 percent this week. As of the time of writing, according to CoinGecko data, it is trading at $ 21,692.
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