Two closely followed crypto analysts Bitcoin (BTC) He warned that a drastic correction could happen very soon, which could plunge the price as low as $30,000.
Smart Contracter The analyst, known by the pseudonym, stated in his post on Twitter that Bitcoin set up a bull trap at the $ 42,000 level before retreating to the $ 29,000 level.
“It looks like BTC is in redistribution here. I think we’ll go to them for about 10 days, and then we’ll get rid of the surrender one last time, and then we can make a long investment.”
Altcoin Psycho The analyst, known by the pseudonym, also shared an analysis stating that he agreed. Sharing a video on his YouTube channel, the analyst stated that one of the things he is looking for in BTC is a massive liquidation that clears the market of excessive leverage, similar to what happened with Bitcoin in June 2021.
“If we can get below this ($32,000), I’m going to take a pretty heavy risk. Now there’s a good chance we can go much lower. It’s highly unlikely that this will happen again in June of last year, but outside of this current scenario, if there is any place to make big bets and try to get some blood from the markets outside of this current scenario, it will be around that level ($30,000).”
While both analysts predict a final capitulation, they also believe that Bitcoin will bottom out after the correction.
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