Kaleo, a pseudonymous technical analyst who has more than 465,000 followers on Twitter, said he will consider taking a long position in Bitcoin if it reclaims the $50,000 level and be bullish if the cryptocurrency moves quickly to the $58,000 range.īasically just a simple retest of the log breakdown
I'm thinking somewhere around $39k-$40k as a potential local bottom. That means a move below $42k if it happens again. Remember, $BTC has a tendency to dip below liquidation wicks like the one we saw on December 4th. Justin Bennett, who has over 96,000 followers on Twitter, noted that Bitcoin has a tendency to dip below liquidation wicks and he sees the $39,000 to $40,000 level as a potential local bottom for the apex cryptocurrency. He noted that some of the altcoins have been testing all-time highs despite a correction for Bitcoin. Total market capitalization for #crypto is fine too. Simply put, #Bitcoin lost support, seeking for all the liquidity, maybe a test at $42K range and that should be it.
The analyst feels that like last year, Bitcoin is continuing to test the levels between $30,000 and $60,000 in the beginning part of this year, but $40,000 would be a “pretty big” important level.Īmsterdam-based popular cryptocurrency analyst Michaël van de Poppe told his over 549,000 followers on Twitter that Bitcoin has lost support and could test the $42,000 range. I don’t think we’re going to have a parabolic Q1 or probably Q2 for that matter,” Cowen added. “If we want to continue to compare it to the potential summer lull, then we need to see a bounce and we need to bounce a few thousand dollars in short order, because if we don’t then we’re clearly going on a different path,” Cowen said. What Happened: Cryptocurrency analyst Benjamin Cowen said on his YouTube Channel that Bitcoin’s current correction is actually a tamer version of the one seen in May last year. Federal Reserve could raise interest rates sooner than expected, here’s what four analysts and expert traders are saying about the apex cryptocurrency. As Bitcoin (CRYPTO: BTC) and other major cryptocurrencies fell Wednesday evening amid worries that the U.S.
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