Traders say there aren’t many reasons to be bearish on Bitcoin
Cointelegraph
Published Feb 12, 2021 04:22PM ET
Updated Feb 13, 2021 06:20PM ET
Bitcoin hit just shy of $50,000 in the past 24 hours, following news earlier this week that Tesla (NASDAQ:TSLA) had purchased $1.5 billion worth of the asset. Despite Bitcoin (BTC) rising more than 100% past its 2017 high near $20,000 over the course of the past few months, Cheds, a crypto analyst and trader on Twitter, thinks the scene remains bullish.
“I think many people are looking for a local top here, or perhaps reasons for one because the price has risen so far so fast,” Cheds told Cointelegraph. Cheds is CMT level I certified, which indicates a specific level of expertise in technical analysis.
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Written By: Cointelegraph
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