Analyst Who Nailed 2018 Bitcoin Bottom Issues Warning to Crypto Traders
A crypto strategist who precisely known as the 2018 bear market backside for Bitcoin (BTC) is issuing a recent warning for the king crypto.
Pseudonymous analyst Good Contracter tells his 210,000 Twitter followers that Bitcoin’s rally to round $24,000 final week now seems to be a entice set for BTC bulls.
“BTC again into final week’s breakout vary indicating it was a bearish fakeout, closing this thread off now and can purchase any new lows.”
The analyst highlights that he’s seeing bull traps in different cryptocurrencies, not simply BTC, warning that new bear market lows for digital belongings could possibly be on the desk.
“Again in stablecoins. Worth motion on all the pieces is beginning to seem like final week’s breakouts have been fakeouts. Had a very good few weeks, not keen to offer all of it again. Will aggressively purchase new lows ‘if’ they occur over the following week or two… It’s a tough market to commerce proper now but when we get a brand new low it is going to be such a high-conviction, all-in purchase. I hope it occurs.”
Whereas Good Contracter has flipped bearish on BTC, fellow crypto analyst Credible tells his 337,400 Twitter followers that he’s nonetheless bullish on Bitcoin so long as it stays above his invalidation degree of $19,615.
“[BTC] might dip under first native help right here [$21,600] because the response off it so far has been fairly lackluster. That being stated, seems to have accomplished a five-wave transfer to the upside, quantity peak on the fifth [wave] and declining since, so in search of the next low and continuation. Invalidation degree on [the] chart.”
At time of writing, BTC is swapping palms for $21,081, down over 4% on the day.
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