Three popular analysts of the crypto world bitcoin He thinks that the price may break out this week, but according to analysts, this rally may not go “in a straight line”. Here are the details that analysts drew attention to.
The crypto strategist, known by the alias Credible, pointed out to his 337,500 Twitter followers that Bitcoin has finally broken the sudden resistance of $25,000, but BTC has revisited support around $22,000.
“Still no change in my opinion, we are still looking for a downside move to GREEN or at least a move lower here as indicated by the RED X, up to $25,000 and above before continuing.”
While analysts are publishing, Bitcoin is trading at $23,185, but the price is currently at $22,800. The move to Credible’s $22,000 retracement target represented a 5% downside risk for BTC.
Koinfinans.com As we reported, another widely followed crypto analyst also predicts that Bitcoin will experience a slight drop before starting an upside rally. Smart ContracterTo his 210,300 Twitter followers, he predicts that Bitcoin will correct towards the $22,500 level this week before surging above $25,000.
“BTC triggered a fake breakout/fake setup for me last week, causing me to close my long-term trades. Since then, it has made a full recovery to a new high in a net five waves. Once again, I am considering taking any pullback to $22,500 early this new week.”
Other crypto strategist Inmortal also shared a similar prediction about Bitcoin. However, the crypto trader expects the retracement to be slightly deeper, occurring around $21,700, representing a 6% downside potential for BTC from current prices.
Sharing its target this month, Inmortal thinks that Bitcoin can go up to $27,000 before the end of August.
You can follow the current price action here.
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.