in 2018 bitcoin Known for accurately predicting the bottom price, Smart Contracter drew attention to the short-term price of BTC. The analyst thinks that BTC looks ready to pull back and exit the market.
Known for using the Elliot wave theory, the trader warned that BTC could easily drop $22,000 in the short term.
“Forget everything. For now I am away from investing and resting with stablecoins. January started well, but $22,000 is indeed possible. We cannot even predict how this will reflect on altcoins.”
Smart ContracterPay attention to the potential strength of the dollar, which broke above a historical support and resistance level. pulling.
that weekly SFP on $DXY is straight up ringing alarm bells to me.
Im stabled up, good luck out there. pic.twitter.com/5WI5pbttkQ
NEWS CONTINUES BELOW— Bluntz (@SmartContracter) February 3, 2023
Koinfinans.com as we reported Michael van de Poppe On the other hand, he thinks that Bitcoin could logically find a healthy way to correct up to $20,000.
However, the trader, who is of the opinion that the markets tend to slide in the directions that hurt the most, also noted that BTC could easily continue to break up.
“Theoretically speaking, a correction towards $20,000 makes a lot of sense and would be a great buying opportunity for Bitcoin. However, most of the people are waiting for this fix to happen as a large group has stepped aside. In this context, upside continuation is maximum pain.”