RATE Group | FundStrat Analyst: Bitcoin at the Bottom, Recovery Very Soon
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FundStrat Analyst: Bitcoin at the Bottom, Recovery Very Soon

03 Jun FundStrat Analyst: Bitcoin at the Bottom, Recovery Very Soon

Posted at 23:11h in Bitcoin News by

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Fundstrat’s co-founder, Tom Lee, has long been known as a Bitcoin Bull in the cryptocurrency community. Robert Sluymer, Managing Director and Technical Strategist at Fundstrat seems to be joining the company’s growing group of cryptocurrency bulls.

Promising Signs for Bitcoin?

On CNBC’s “Futures Now” segment, Sluymer stated:

“We think Bitcoin is starting to bottom off some very key support around $7,000 and we think it’s going to start a recovery process here.”

Sluymer also noted that he has a three-phase technical analysis process that allows him to try to predict future price movements of cryptocurrencies. The first phase, which is the deceleration or bottoming out of momentum indicators, may be just starting. 

Sluymer pointed out that the first phase seems to be in effect when he said:

“While it is premature to conclude the correction is over, there was a positive technical development this week suggesting the first stage of a three-stage bottoming process is…

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