Fundstrat's Robert Sluymer Says Bitcoin Price Is At a Critical Moment of Truth

Robert Sluymer of Fundstrat Affirms That Now Is The Moment of Truth For Bitcoin

In a recent interview, Robert Sluymer, the Head of Technical Strategy from Fundstrat, has talked about the next key levels for Bitcoin to bounce. He believes that Bitcoin is in a moment of truth.

After a lot of volatility, Bitcoin sits at a price of about $7500 USD per 1 BTC. To evaluate its future price, the economist uses a 15-day average that after a move upwards, there is a pullback and, according to him, now is a very important moment to see if the trends that have been observed so far will continue or not.

According to the expert, if you look at the stats, you will see that Bitcoin has a certain relative strength index (RSI) and that it generally moves according to it. However, if Bitcoin is not able to continue this trend, it is vulnerable to a collapse to the $6000 range.

“You Never Know” If Bitcoin Can’t Go Lower or Not

When questioned about whether Bitcoin can drop even lower than the $6,000 range, Sluyer was sincere: “you never know”. Technical analysis, he says, helps you gauge your risk, but you can never know 100% for sure. According to him, technical levels are more about finding stop loss positions and risk than actually knowing the future.

Bitcoin, according to him, has a very tight stock and is a purely technical asset class. Because of this, you may not know for sure by looking at the technical levels, but it will surely be your best bet. He does not believe that any other asset class like Bitcoin trades almost only technicals. As there are almost only technical traders involved in the market, Sluymer believes that the market is unique.

Top 4 Cryptocurrency Trading Chart Patterns For Profit Potential to Know

Top 5 Bitcoin Trading Tools All Cryptocurrency Investors Should Use

Candlestick Charting in Cryptocurrency Trading: Simple How To User Guide

Get Free Email Updates!

*Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

I will never give away, trade or sell your email address. You can unsubscribe at any time.

Avatar
Bitcoin Exchange Guide News Team
B.E.G. Editorial Team is a gracious group of giving cryptocurrency advocates and blockchain believers who want to ensure we do our part in spreading digital currency awareness and adoption. We are a team of over forty individuals all working as a collective whole to produce around the clock daily news, reviews and insights regarding all major coin updates, token announcements and new releases. Make sure to read our editorial policies and follow us on Twitter, Join us in Telegram. Stay tuned. #bitcoin

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

LEAVE A REPLY

Please enter your comment!
Please enter your name here

3,511FansLike
2,795FollowersFollow
4,273FollowersFollow

Live Bitcoin Price & Latest BTC Charts

Today's Latest Crypto News

DeFi Growth & Stablecoin Surge Most Bullish Crypto Development: DCG State of Crypto 2020 Survey

39% of the respondents that involve 150 portfolio companies see DeFi as the most bullish crypto development of 2020, as per the DCG Founders...

Non-Custodial Bitcoin Exchange, Hodl Hodl, Launches Lending Service Without KYC

Hodl Hodl, a non-custodial Bitcoin exchange, is launching a KYC-free lending product for its customers. The exchange claims that its lending product would be...

Total Value Locked in Harvest Finance Surpasses $1 Billion, Up 366,200% Since September

Decentralized platform Harvest Finance that provides users a way to farm assets for the highest yields now has more than a billion dollars in...

Strong Institutional Demand for Bitcoin, CME Becomes Second Largest BTC Futures Market

Bitcoin's price made a big shift this week as the bulls gained control of the market and pushed it past $13,000. A similar shift has...

PoolTogether's ‘No Loss' Gambling Platform Utilizes Chainlink’s VRF on Ethereum to Select Winners

Chainlink announces its verifiable random function on the Ethereum mainnet, bringing a host of benefits to the decentralized platform. PoolTogether, a gamified savings platform...

BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.

Start Using Crypto Today