Top Trader Warns Bitcoin (BTC) Final Flush May Be in the Cards – Here’s His Outlook
A extensively adopted crypto strategist says Bitcoin (BTC) appears weak to a sell-off occasion after shedding a key value degree.
Pseudonymous analyst Credible Crypto tells his 340,700 Twitter followers that he thinks Bitcoin is able to see another leg down because it continues to commerce beneath resistance at $27,000.
Based on the dealer, Bitcoin’s latest weak spot might result in a liquidation occasion that sees BTC buying and selling beneath $25,000.
“A bit of extra impartial now when it comes to route on BTC now – the RED degree holds the important thing, for my part.
Reclaim it, backside could also be in.
Fail to reclaim, and we seemingly go for a flush of our lows into the GREEN line at $25,000 with some wicks decrease relying on momentum/liquidations. This could be the ultimate flush underneath $25,000 I’ve been mentioning in earlier posts and vids that we haven’t been in a position to rule out but.
Keep in mind – a closing flush is HEALTHY so long as we keep above $20,000-ish.”
At time of writing, Bitcoin is buying and selling for $26,883, nonetheless beneath the dealer’s key value space.
Credible Crypto holds a contrarian view that Bitcoin will seemingly witness an enormous surge this 12 months on its solution to a contemporary all-time excessive. In April, the dealer predicted that Bitcoin will break the six-figure mark earlier than the tip of 2023.
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