Scott Melker Believes Bitcoin Will Recover To $60k

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Several people got to worldwide (or at least western world) fame thanks to Bitcoin’s recent bull run which started in October 2020. Their views are by now being followed by hundreds of thousands.

Meltem and Scott

Meltem Demirors, chief strategy officer at CoinShares, is now featured on Bloomberg, Reuters and so many more channels for her explanations and analysis of crypto news and Scott Melker (aka the Wolf of All Streets) has seen his subscriber base soar as his easy explanations of technical analysis are well received by those new to the cryptosphere.

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— Meltem Demir◎rs (@Melt_Dem) June 23, 2021

Scott’s technical analysis and chartapalooza have become must-see videos and his social media following exploded to reach almost 500,000 people on Twitter alone. The fact that he was recently invited to Fox news to explain Bitcoin’s movement means (at least for US media) that he’s arrived.

And thus, it is with great interest that we say this week’s latest video by Scott featured on of the all-time greats of technical analysis, namely Richard D. Wyckoff.

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If Scott’s analysis of the current price model of Bitcoin is correct, we could indeed be looking at oversold areas and thus a bounce up is overdue. Taking into account the conditions needed for confirmation of the Wyckoff method, we could then be looking at a climb that would take Bitcoin all the way back to $60k.

Beware that we must see confirmation and a leg up in the next week to confirm his suspicion, but we’re sure Scott will come back to this if it does.

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