Famous financial analyst Michael Kramer pointed to the formation in Bitcoin (BTC), implying that a possible negative breakout could result in a decline to 20 thousand dollars in the long term.
Kramer posted on his official social media account on May 21. in the shipmentformed on the hourly Bitcoin chart to symmetrical triangle formation drew attention. Analyst, current formation above or downward breakdown of risk assets will affect the overall stated.
Kramer Bitcoin And stocks between risk assets such as high correlation In the post he pointed to, he made the following statements:
Overall a very good leading indicator for risk assets. A breakout to the downside would not be good for stocks.
upstream breakdown in the scenario 9.27% with an increase 29,422 Kramer, who gave a dollar target, said that if a downside break occurs, Bitcoin will 25 thousand falling to the dollar 6.91% value may lose seen in Kramer’s post detail was among. Moreover 25% of with depreciation on 20 thousand dollar levels are also Kramer’s between expectations found to exist.
According to Coinecko data, the latest 30 days in 1.5% depreciation bitcoin, end 24 hours in 0.2% declining as of writing 26,883 traded at the dollar level.