A Crypto Analyst Updates Outlook on Bitcoin (BTC) and Uniswap (UNI)
A popular crypto analyst is revising their outlook on the bull market, beginning with Bitcoin (BTC). According to the analyst, the bear market for BTC is behind us and a full bull market lies ahead. Despite a 1.6% dip in the last 24 hours, the analyst believes that Bitcoin’s pullback will soon give way to an upward trend. As long as BTC maintains itself above the top of its current structure, there is potential for renewed upside. Currently valued at $43,600, Bitcoin has experienced a 1% increase in the past week.
Confirmation of UNI’s Uptrend
The analyst also provides insights into the decentralized exchange Uniswap (UNI) in their Altcoin Newsletter. They state that UNI’s long-term uptrend has been confirmed. The recent retest of the top of the blue channel and a successful Monthly Close above the blue Channel Top indicate UNI’s breakout from the blue market structure and its new macro uptrend. Holding the black $6.53 level as support would significantly impact market psychology at this level. At present, UNI is trading at $6.32, showing a 5% decline in the last day.
Hot Take: Positive Outlook for BTC and UNI
According to a crypto analyst, both Bitcoin (BTC) and Uniswap (UNI) are poised for positive developments in their respective markets. The bear market for BTC is considered to be over, with a full bull market expected to follow. The recent pullback in BTC should soon transition into an upward trend as long as it maintains itself above key levels. Similarly, UNI has confirmed its long-term uptrend with successful breakouts and retests. Holding crucial support levels will be crucial for UNI’s market psychology. Overall, the analyst’s outlook indicates potential growth and positive developments for both BTC and UNI.
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