Cryptocurrency analyst CryptoCon published today Bitcoin continues to claim that BTC peaks around $45,000 in its price prediction did.
About 2 Weeks ago, I made the claim that #Bitcoin topped out at 45k, and I am still sticking to it.
NEWS CONTINUES BELOWThe LMACD adds another layer of confirmation with a cross of the Descending Cycle Mid-Top Trend.
So if this isn’t the cycle top, why does this matter?
NEWS CONTINUES BELOWThe mid-top typically… pic.twitter.com/ex4J4edn5M
— CryptoCon (@CryptoCon_) December 26, 2023
NEWS CONTINUES BELOW
CryptoCon points to the crossover of LMACD (Leading Moving Average Convergence Divergence) below the Descending Loop Mid-Top Trend to confirm his theory. As he explains, “The mid-top typically brings a major correction from 38% to 52% (excluding the 2020 black swan).”
The analyst notes that Bitcoin could register a significant correction in the range of 38-52% from its recent high of $45,000. This indicates that the potential bottom of the correction is between approximately $26,000 and $21,500.
The analyst continued: “For investors who have not benefited from the Green Year Savings prices, this gives them another chance.” Therefore, CryptoCon sees the potential correction as a buying opportunity for those looking to enter Bitcoin at lower prices.
The analyst also predicts that the correction will “initiate a sideways period that typically lasts approximately 5-6 months.” According to his prediction, Bitcoin may not rise again until May 2024 after a long period of consolidation.