Famous Chinese cryptocurrency analyst Willie Wu shared the latest ratings of the market on social media. Wu has focused on both negative development and possibilities that are positive for investors.
In a statement about Bitcoin, Wu said, “There’s some good news and maybe there’s bad news for you.” Analysts assessed the general market liquidity situation and provided an optimistic message regarding the long-term outlook. Wu said, “Risk signals are in a subtrend, indicating that the general market environment is dominated by purchasing liquidity. This ground is ready for new and powerful uptrends in the long term.”
However, Wu also pointed out that there were signs of weakening the strength of the rise, taking a careful approach, saying, “The strength of the strength from $75,000 to $112,000 has begun to break.”
“If the momentum expected this week doesn’t come, we may face a consolidation period again,” Wu stressed that next week will be important for the market. The analyst also mentioned short-term risks and said opening long positions by late participating speculators could put pressure on prices along with profit sales. Wu said SOPR data refers to high potential benefits realising.
*This is not investment advice.
