Bitcoin (BTC) has already hit its price bottom, one of the industry’s top executives believes as BTC price action stays above $40,000.
In a tweet on Monda, Jurrien Timmer, director of global macro at U.S. multinational financial services corporation Fidelity Investments, called time on any further Bitcoin price dips.
Bitcoin bulls increase confidence
BTC/USD maintained higher levels overnight on Monday after surging through $40,000 resistance. Despite not yet fulfilling traders’ predictions of a $47,000 push, the mood has become broadly positive on the back of fresh high-profile praise from the likes of Elon Musk and Paul Tudor Jones.
For Timmer, the time has come to look higher, not lower, when it comes to charting Bitcoin’s next move.
“In my view, it looks like the bottom is in,” he summarized.
Timmer uploaded a chart comparing BTC/USD with the GS Retail favorites basket, a relationship that highlights similar local bottom formations.
