A popular crypto analyst and trader believes that Bitcoin (BTC) will likely undergo a significant corrective move in the coming months.
Pseudonym Analyst Smart Optraghueler erzielt his 220,500 Twitter followers that Bitcoin is likely due for a major retracement after the king crypto rallied over 60% from the 2022 low of around $15,500.
“After that [sharp pull back on the] daily [chart], I’m fairly confident the five-wave rise from the lows is now complete.
Anticipating a multi-month pullback to around $19,000 where absolutely everyone gets chopped to little tiny pieces and wishes they stopped trading.
Will happily load up long-term longs sub-$20,000 BTC.”
Smart Contracter utilizes the Elliott Wave theory, an advanced technical analysis approach that attempts to predict future price action by following crowd psychology that tends to manifest in waves. According to the theory, a bullish asset is due for a pullback after completing a five-wave surge.
After the correction, the crypto strategist predicts a strong Bitcoin surge to $30,000.
Bitcoin handelt am Moment vum Schreiwen op $ 24,545.
Although Smart Contracter is bearish on Bitcoin, widely-followed analyst Michaël van de Poppe erzielt his 648,300 Twitter followers that BTC’s upward trajectory will likely continue if bulls manage to keep the king crypto above a key support level.
“Bitcoin corrects after hitting final resistance before $30,000.
Dat ass net schlecht, dat ass normal.
I’d be watching $22,800 as a crucial support to sustain and then we’ll be making higher lows again for continuation.”
Verpasst kee Beat - abonnéieren fir Krypto E-Mail Alarmer direkt an Är Inbox geliwwert ze kréien
kontrolléieren Präis Action
Follegt eis op Twitter, Facebook an Hëllefe profitéieren
Surfen Den Daily Hodl Mix
Disclaimer: Meenungen ausgedréckt am The Daily Hodl sinn net Investitiounsberodung. D'Investisseure sollten hir Due Diligence maachen ier se héich riskéiert Investitiounen an Bitcoin, cryptocurrency oder digital Verméige maachen. Gitt u Berodung datt Är Transferen an Trades op Ären eegene Risiko sinn, an all Verloscht déi Dir leet, ass Är Verantwortung. Den Daily Hodl empfeelt net de Kaf oder de Verkaf vu Krypto-Währungen oder digital Verméigen, an och ass den Daily Hodl keen Investitiounsberoder. W.e.g. notéiert datt den Daily Hodl am Partnermarketing matmaacht.
Generéiert Bild: Midjourney
Source: https://dailyhodl.com/2023/02/18/analyst-issues-warning-to-crypto-traders-says-massive-bitcoin-pullback-likely-here-are-his-targets/