Bitcoinexperienced major selling pressure after the approval of spot ETFs and dropped sharply to $41,000.
After this decline BTCWhile , continues to consolidate, analysts are divided on the BTC price.
While some analysts think that this correction in Bitcoin is healthy and that there will be an increase from now on, some analysts think that the correction in BTC will continue.
At this point popular analyst Tone Wows He also thinks that the correction is not over.
The analyst, who recently shared his BTC analysis in his YouTube video, He warned investors that a much larger correction could occur soon.
“Everything Points to a Major Correction in Bitcoin!”
He claimed that if Bitcoin does not make a daily close above $44,000 in the coming days, there may be a drop to $36,000.
“All signs point to a much larger correction in Bitcoin. I hope this doesn’t happen.
But I will stay on the sidelines with cash until Bitcoin breaks above the moving averages at $44,000, where I need Bitcoin to get back to $44,000.
If Bitcoin fails to make a daily close above $44,000, there could be a correction towards $36,000.
These levels may change depending on how fast or how slow the decline occurs.
At this point, $39,000 may also be a good buying opportunity.”
The analyst stated that the decrease in Bitcoin below $ 40,000 in the short term is not a decrease in the halving period. “Pre-halving dips usually occur a few weeks before the halving. It wouldn’t happen four months ago.” said.
“Bitcoin will drop to $30,000 at most, not $20,000!”
Finally, although the analyst expects a big drop in Bitcoin, he stated that this drop could go up to $ 30,000 at most.
At this point the analyst “I don’t think we’re going to $20,000 for Bitcoin. $30,000 is my lowest. I don’t think we’ll go to $30,000 either. “And for $30,000, there needs to be a truly disastrous outcome.” said.
Bitcoin At the time of writing, it continues to trade at $42,810.
*This is not investment advice.
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