made in 2021 bitcoin Pentoshi, who is famous for his predictions, warned his followers about a new correction. Although the analyst believes that BTC will exceed the $ 32,000 level, investors should be cautious. called.
$BTC as we approach 32k area, if you’re finally thinking of getting long it’s time to ask what you’re targeting if so
NEWS CONTINUES BELOWI think if we get a larger correction it’s from that 32.5k area where late longs jump in and people begin to over-leverage. https://t.co/sZDOARJFjg pic.twitter.com/8NuLJLEh8Y
— Pentoshi 🐧 euroPeng 🇪🇺 (@Pentosh1) July 3, 2023
NEWS CONTINUES BELOW
However, he added that he believes a correction will likely take place as investors are trading for the fear of missing out (FOMO) and over-indebted themselves, paving the way for a downturn.
As Bitcoin approaches the $32,000 level, I suggest you rethink your long-term investment plans. I think a larger correction is possible and this will be a level where the ‘late longs’ kick in and people start over-indebted from the $32,500 area.
Looking at its chart, key support levels for Bitcoin are around $29,100, $26,600, and $25,100.
Pentoshi previously stated that Bitcoin’s recent pullback met his prediction of a pullback below $30,000. This means that the price is ready to move higher after holding support around $30,000.
Pentoshi also predicts that BTC will hit an all-time high of $180,000 in 2026, predicting a low of $69,000 in this cycle.
You can follow the current price action here.