Fidelity's Director of Global Macro, Jurrien Timmer: Bitcoin has triggered a "double bottom breakout," potentially signaling a rise to $100,000.
CoinDesk reported that Jurrien Timmer, Fidelity Investments' Director of Global Macro, stated that Bitcoin has surpassed $80,000, triggering a "double-bottom breakout" technical pattern, which confirms a bullish trend and could push its price to $100,000. Timmer posted on X on Friday that Bitcoin is challenging the key resistance level of $80,000, and a breakthrough would confirm the double-bottom pattern, targeting $100,000. Despite a recent slowdown in upward momentum, Bitcoin's price remains above $80,000 and has risen over 40% this quarter, outperforming gold, the S&P 500, and other major assets. Currently, on the cryptocurrency exchange Deribit, the open interest for Bitcoin call options at $90,000, $95,000, and $100,000 is $2.45 billion, $2.33 billion, and $1.79 billion, respectively.
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Disclaimer: This content reflects the author's personal views only and does not constitute investment advice.
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