Bitcoin (BTC) whales have stolen billions of dollars worth of the flagship digital asset in just three weeks, a closely watched cryptocurrency analyst said.
Crypto strategist Ali Martinez in a new thread says 44,700 followers on social media platform
“Bitcoin whales have bought 140,000 BTC over the past three weeks, worth $6.16 billion!”
Crypto whales’ increased BTC holdings are due to Martinez. note Bitcoin’s supertrend, an indicator that helps traders identify market trends, sent a bullish signal to the cryptocurrency king.
According to Martinez, the Super Trend indicator has historically been an accurate indicator of a Bitcoin bull market.
“Supertrend has placed a buy signal on the Bitcoin monthly chart, a tool known to accurately predict BTC bull markets. All four buy signals issued since the launch of BTC were validated, resulting in gains of 169,172%, 9,900%, 3,680%, and 828% respectively.”
At the time of writing, Bitcoin is trading at $48,157, up slightly over the past 24 hours.
We conclude the analysis with meme coins Pepe (PEPE) and Martinez. Called The 3-day chart appears to be forming a bullish inverted head and shoulders pattern.
The analyst also says that the Tom Demark (TD) Sequential Indicator, which is used to identify trend direction and potential price reversals, is also flashing bullish signals, suggesting that there is a rally ahead for the memetic crypto asset.
“PEPE is currently showing signs of forming the right shoulder of a (reverse) head-shoulders pattern on the 3-day chart. Additionally, the TD Sequential indicator issued a buy signal within this period, suggesting an expected bullish impulse for PEPE.”
PEPE is trading at $0.000001 at the time of this writing.
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