Crypto Analyst Says Bitcoin (BTC) Bottom in Sight After Six Weeks in Red – Here’s His Target Price and Date

0

After six consecutive weeks in the red, a popular crypto strategist says that the end of Bitcoin’s (BTC) correction is finally on the horizon.

Pseudonymous crypto analyst Kaleo tells his 486,100 Twitter followers that he doesn’t believe Bitcoin’s downtrend will end at $30,000.

“So what happens next? They’re going to get you used to $30,000 like they got you used to $40,000. They’ll sell you on dreams of $40,000 like you were sold on dreams of $50,000. We’ll probably have a bounce that gets close… Capitulation will be out in full force. Bitcoin will once again be declared dead.”

In Late April, when Bitcoin was still trading above $40,000, Kaleo predicted that bears will push the top digital asset all the way down to $28,000. Over a month later, the crypto strategist says his roadmap is still valid.

“Bitcoin/BTC. Plenty of hate throughout this thread and yet somehow we’ve nearly made it.”

Source: Kaleo/Twitter

As Bitcoin is now trading close to his downside target, Kaleo predicts that BTC will establish a bottom in the coming days.

“We’ve had six weekly red candles in a row. This week will be number seven. Seven is a number of completion. Bottom will be in this week. If I had to guess $28,000/$29,000.”

At time of writing, Bitcoin is changing hands for $31,046.

Check Price Action

Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

&nbsp
Check Latest News Headlines

 

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/dolbiy_tatra


Credit: Source link

Leave A Reply

Your email address will not be published.