Leading crypto Bitcoin (BTC) fell below the psychological support level of $ 17 thousand. However, the trading volume of the cryptocurrency market leader increased. A crypto analyst known for accurate Bitcoin predictions says that BTC’s latest rally is part of a corrective wave. In this direction, the analyst expects a dive from BTC.
“Bitcoin will make a new dive below $15,000”
The price of crypto market leader Bitcoin (BTC) has dropped 0.73% in the last 24 hours, according to crypto market tracker CoinMarketCap. However, its positive weekly performance continues. The leading crypto managed to increase its earnings by 4.62% in the last 7 days. As a result, the price of Bitcoin (BTC) is currently at $16,961. On the other hand, the 24-hour trading volume of BTC has increased over the past 24 hours. During this time, total trading volume increased 28.57% to $22,313,842,254.
The overall market cap of BTC has also declined over the past 24 hours as a result of the price drop on the timeframe. At press time, the market cap of BTC stands at $356,216,940,365. Also, the dominance of BTC is down 0.04% compared to the last day. This shows that altcoins are slightly behind BTC.
BTC price daily chart / Source: CoinMarketCapLooking at the leading crypto’s daily chart, the price of BTC is currently trading above the 9 and 20 daily EMA lines. Accordingly, BTC wants to challenge the current resistance level of $17,350. Additionally, the 9 daily EMA is bullish above the 20 daily EMA line. If this happens, BTC’s price will have enough bullish momentum to break the current resistance level and approach $19,000.
Meanwhile, the well-known analyst nicknamed Smart Contracter says the recent spike in BTC’s price is part of a ‘corrective ABC W4’. The analyst predicts that BTC will make a new dive below $15,000 by the first quarter of 2023.
Analyst’s previous successful forecasts
Smart Contracter has made a name for itself in the cryptocurrency market with some successful predictions in the past years. The analyst, whose predictions we have included on Kriptokoin.com, correctly estimated the $ 3,200 that Bitcoin saw in 2020. In addition, the analyst correctly predicted that Bitcoin will make a bull run towards the end of 2020. In addition, he correctly predicted that the leading crypto will break $23,000 in 2021. Smart Contracter also made successful predictions for Ethereum. He successfully predicted the altcoin’s drop to $1,600 in March last year. It also hit Ethereum’s pullback in September 2021.
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