Crypto analyst Snow called for this. bitcoin topdeclared that BTC will not reach $116,000 next year. He made this comment while downplaying the recent market recovery, claiming it is just a dead-end rally.
Analyst says Bitcoin will not rise above $116,000 next year
in ×postSnow said Bitcoin will rebound but will not break above $116,500 in the next 365 days as the algorithm is printing a new ceiling. He further warned that this is just a problem dead cat bounce That’s why analysts think traders shouldn’t get their hopes up that the bullish momentum will continue.
Snow sold the flagship cryptocurrency when Bitcoin was trading near its current all-time high (ATH) of $126,000, which he correctly called Bitcoin’s all-time high. The latest comments from analysts are: BTC rises above $90,000this provides optimism that the bull market may still be here and the market cycle could be extended.
But analysts argued that the “supercycle” narrative was a lie sold to market participants by those who wanted to carry the bag. He also revealed that he is looking for shorts rather than longs as he still expects Bitcoin to crash further. crypto analyst Colin also recently suggested The current market recovery is a dead cat bounce.
Analysts said there is an 80% chance that BTC is already in crisis. bear market. However, he pointed out that there is only a 20% chance that this rebound will push the leading cryptocurrencies to new all-time highs. However, Colin predicted that this recovery could take Bitcoin to between $100,000 and $115,000.
BTC rally is about to begin
crypto analyst Titan of the Crypt shown Bitcoin is about to witness a rally that could break the psychological $100,000 level. This comes after he pointed out that a rally typically occurs after a 10-day stochastic RSI. bullish crossover. But the real question is whether this rally is strong enough to break through the ATH or is it just a dead cat rally confirming the end of the bull market, the analyst added.
The same analyst revealed that they are currently 80% bearish and 20% bullish. However, cryptocurrency analysts CrediBULL Crypto Believes He said the bull market will continue unless Bitcoin falls below $74,000, emphasizing that this is an important time frame level. and Monthly settlement The analyst said a close above $93,000 would be a positive sign, while a close above $102,000 would be “incredibly bullish.”
As of this writing, the price of Bitcoin has risen over the past 24 hours and is trading at around $91,450, according to . data From CoinMarketCap.
Featured image from Pngtree, Chart from Tradingview.com
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