"Current price offers rare buying opportunity for bitcoin"

Game of Trades is a popular analyst on Twitter who has rapidly built up a following of over 40,000 people. According to the analyst, the current price of bitcoin, which is hovering around USD 20,000, has reached a special point which may make it interesting to buy into.

Rare buying opportunity spotted

"Rare buying opportunity for bitcoin spotted," Game of Trades begins its story on Twitter. "The bitcoin price is hovering above the low band of the Bitcoin Price Temperature, which represents the 4-year moving average.

https://twitter.com/GameofTrades_/status/1566077601172672512

The Game of Trades chart shows that from this point bitcoin almost always started a new rise. Unfortunately, past results are no guarantee for the future, as there are more factors which play a role in the course of bitcoin's price. However, this does not take away from the fact that it is a positive signal.

In the end this blue trend line has often proven to be a strong support for bitcoin and even a springboard to higher prices. At the moment, macroeconomic conditions seem to be taking a hit, but this could change in the coming months.

Not everyone is positive

Not everyone shares Game of Trades' positive vision. In fact, according to analyst Kevin Svenson, the chart currently looks very negative for the bitcoin price, at least in the short term. "It currently looks like we will continue the bear market unless we manage to jump above this trend line," Svenson said.

https://twitter.com/KevinSvenson_/status/1566044694794076161

Svenson may well be right, but on the other hand he bases this trend line on two solid bounces and one more questionable bounce near the break down. In the end, technical analysis is just drawing lines in a chart and bitcoin is obviously more than technical analysis.
https://www.indexuniverse.eu/current-price-offers-rare-buying-opportunity-for-bitcoin/