Top Analyst Says That BTC Is Displaying A Massive Bullish Trend

A well-known crypto strategist thinks Bitcoin (BTC), the king of cryptocurrencies, is getting ready for a massive rally in 2023.

The analyst who goes by the name “Inmortal” in the business world tells his 189,800 Twitter followers that Bitcoin’s three-day chart signals a trend change.

“Monster divergence on Bitcoin.

It’s upbeat, but it isn’t a bottom signal. Price may continue decreasing as the RSI [relative strength index] makes higher lows.”

The RSI is a momentum indicator that can show when the trend of an asset is about to change in a big way. If you look at the analyst’s chart, Bitcoin seems to be forming a bullish divergence, which means that buyers are getting stronger even though BTC prices keep going down. Immortal’s chart also shows that when Bitcoin showed the same signal in January 2019, October 2020, and July 2021, it caused big moves up.

With BTC bulls gaining steam, Inmortal thinks that Bitcoin will start an epic rally in 2023, similar to what happened between March and July of this year when the king cryptocurrency went from around $3,000 to $14,000.

“We repeat this in 2023.”

In the short term, Inmortal thinks that Bitcoin will keep going up and down until it reaches $17,500.

“I would take it.”

At the time of this writing, one Bitcoin is worth $16,855. It is a 2.80% increase in the last 24 hours.