Veteran analyst Caleb Franzen, founder of Cubic Analytic, suggested that Bitcoin (BTC) may fall to the peak of the 2017 bull in the coming period.
Caleb Franzen twitter In his post on Bitcoin, step by step $14,000 He claimed that it has progressed to the level and may decrease further in the future. In the chart that Franzen shared, The peak reached in December 2017 It indicated the price level of $13,800. The analyst first stated the target in June 2022.
I trust this target because it coincides with the monthly close in December 2017, the peak of the previous cycle. This level also served as an excellent resistance in 2019. Will it drop there for sure? It’s hard to be sure.
Another in your post if $13,900 level In case of breakage, next support would be $11,400 Implying that, Franzen did not give a clear date for his target. In his analyst post, he stated that the $11,500 to $13,500 levels could be “a magnet for Bitcoin.”
CoinGecko According to the data of BTC price in the last 24 hours 0.2%showed an increase. BTC, which has been keeping its horizontal course for days, at the time of writing the news. From $16,850 traded in the markets.
