in the last months of last year Bitcoin (BTC) forecast An analyst who shared a post had correctly predicted the peak that Bitcoin would reach at $ 60,000 and then its fall to $ 40,000 after this peak.
The fact that the analyst was very successful in these two predictions excited crypto traders and looked forward to the analyst sharing his new predictions. The analyst recently shared his third forecast.
An anonymous trader known by the pseudonym Cheds has revealed that he expects the launch of a Bitcoin futures exchange-traded fund (ETF) from his Twitter account with more than 200,000 followers. After this new ETF to be launched Bitcoin (BTC) Predicting that the price will rise again, the analyst also stated that the price will reach the level of $ 64,000. Following this peak, the analyst also expects the price to correct towards the $40,000 levels again.
“I think, if it’s true; Bitcoin will first rise as high as $64,000 or maybe a little higher, and then decline by rejecting it. Actually, this move is predictable, push the price up and drop it to $40-42k immediately. So scare off retail and then move on…”
Although the analyst’s first two predictions were successful, no indication of the analyst’s third prediction has emerged yet. According to Cheds, Bitcoin will form an ‘ascending triangle’ chart after correcting its current $40,000 level.
When the ascending triangle chart is confirmed, the price generally suggests upside breakouts. Cheds may have set a target for Bitcoin, the nascent ascending triangle, at a six-digit price.
“If the scenario I am talking about happens, the Bitcoin price chart will form an ascending triangle over time and the price action will reach roughly $100,000.”
Analyst Chedssays his thesis is still valid, but a convincing move below the $40,000 level will put him in “serious danger.” Speaking at a recent strategy session, the trader reiterates that Bitcoin bulls have recently stood in the $40,000 range.
“After the rejection, we were watching the bulls to identify this high low and initially we were looking for $52,000-53,000, that failed. Continuation of inverted head and shoulders failed in the 4-hour timeframe. We closed all of them. The question here is where is the rising demand? Here the last legitimate argument for a bull is $40,000. That’s always been very low, so low that it’s a really good discount but not low enough to break the chart. Below this level the chart will break.”
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.