Cryptocurrency analysts, who are famous for their accurate predictions, predict a final capitulation period for Bitcoin (BTC) and think that the price will crash after this event. Let’s examine the current price forecasts of the experts, keeping in mind that the forecasts are not certain.
Bitcoin could drop to these levels in 10 days
A pair of closely followed crypto analysts are warning that the Bitcoin chart is poised for a serious corrective event that could send BTC into the $30,000 price area. The crypto analyst, nicknamed Smart Contracter, told his 205,500 Twitter followers that he saw Bitcoin set a bull trap at $42,000 in the coming days before pulling back to $29,000. You can reach the accurate Bitcoin price predictions of the analyst, which we have transferred as Kriptokoin.com. In his current analysis, Contracter interprets the following technical chart, which equates to around $30,000:
BTC here resembles a redistribution. I think we’ll move on for another 10 days or so, and then we’ll escape one final capitulation.
According to Smart Contracter, the $30,000 bottom zone will occur after a trap stretching to $42.
Other crypto analyst Altcoin Psycho shares the same bearish view.
In a recent strategy session, the crypto strategist said that one of the things he’s looking for in BTC is a massive liquidation that clears the market of excessive leverage, similar to what happened to Bitcoin in June 2021. Similar to Contracter, he thinks that the $30,000 zone will be revisited in Psycho:
If we can get below $32,000 in Bitcoin, I’ll take a pretty heavy risk. Now there’s a good chance we can go much lower. There’s a good chance this won’t happen again in June of last year, but outside of this current situation, if there is any room to take big positions and try to get some blood from the markets, it would be around $30,000.
While both analysts predict a final capitulation, they also believe that Bitcoin will bottom out after the correction.
Bitcoin (BTC), after fluctuating in the $39,700 region in the last 24 hours, its current level declined to the $39,000 band. In the process, most major altcoins exhibit similar price movements.
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