Bitcoin Could Reach $150,000 Soon if Key Indicator Signals Green Light, Warns Jamie Coutts – The Daily Hodl
1 min read
Crypto analyst Jamie Coutts suggests that a key indicator for Bitcoin rallies in Q2-Q3 is on the verge of turning bullish for BTC.
Coutts highlights the significance of the dollar index (DXY) in determining Bitcoin’s performance, noting its inverse correlation with risk assets.
He points out that historically, Bitcoin rallies during the summer months have been triggered by a weakening dollar index.
According to Coutts, a break below the 101 mark for the DXY could potentially set off a significant rally for BTC, with a target price of $150,000 based on past DXY movements.
Bitcoin is currently trading at $67,759.
Stay updated by subscribing to email alerts and following us on Twitter, Facebook, and Telegram.
Disclaimer: The Daily Hodl’s opinions are not financial advice. Please conduct your own research before investing in high-risk assets. All transfers and trades are at your own risk.
Generated Image: DALLE3
Source link
#Bitcoin #Incoming #Indicator #Tipped #BTC #Summer #Rally #Flashes #Green #Jamie #Coutts #Daily #Hodl
