Cryptocurrencies
Strategist Who Called Bitcoin Crash Says It's Time to Buy Crypto
- Fundstrat’s Robert Sluymer sees longer-term recovery in works
- Rally through resistance around 6,000 could come later in 2019
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Bitcoin is in the middle of a sustained recovery and investors should use recent weakness to buy more, according to Fundstrat technical strategist Robert Sluymer. The largest cryptocurrency climbed to its highest since November.
“Use pending pullbacks to continue accumulating Bitcoin in the second quarter in anticipation of a second-half rally through ~6,000 resistance,” Sluymer wrote in a note May 2. He sees Bitcoin’s rebound from its 200-week moving average and breakout from its first-quarter trading range as “the early stage of a longer-term recovery developing.”