The important crypto analyst and CIO of Adaptive Capital, Murad Mahmudov, said he believes Bitcoin is heading towards $100,000.
Mahmudov who is a former financial analyst at Goldman Sachs, believes that traders should take the long view toward investing in BTC.
He tweeted the following:
“At first glance, this looks like a weak chop for the next week or so, but my intuition tells me there is steady accumulation happening at these levels. Don’t try to outsmart yourself on short timeframes, zoom out & think big. In my view, BTC is going to $100K per orangecoin.”
He also said that “Locally a derisked long would be a 4H RSI reset & a breakout of the black diagonal, which pretty much aligns with the wedge breakout.”
According to him, “200MA/EMA/RSIbands+Weekly support all point to 10.8 but you may get a wick at most given the orderbook support across exchanges.”