It has been just revealed the fact that Bitcoin is expecting an upward move, according to the latest reports. Check out the news below.
Bitcoin price prediciton is out
According to a crypto strategist with a large following, Bitcoin (BTC) may experience a surge in value despite the current volatile market.
In a recent strategy session, Jason Pizzino, an analyst with 290,000 subscribers on YouTube, warns that if Bitcoin’s price falls to around $23,500, it may trigger bearish sentiment among BTC investors.
He suggests that this could cause a 9% gap between $26,000 and $23,500.
Pizzino explains that this lack of market activity has led to low volatility, but even a small increase in price could cause significant fluctuations.
He expects to hear many bearish predictions, ranging from $15,000 to $10,000, but believes that this may be a sign of an impending market shift.
Pizzino is closely monitoring the price of $23,600 as a key indicator of BTC’s future performance.
According to Pizzino, there may be a situation where the price of Bitcoin experiences a significant drop, which would trap bearish investors, followed by a rise in price, forming a bullish higher-low setup.
There is a possibility of a quick drop to $23,600, which is the 50% level that has proven to be effective for BTC in the past years, as well as throughout its history.
A bullish higher-low setup usually indicates the end of a market downturn and a potential continuation of the upward trend.
Bitcoin accumulation time is around the corner
A well-respected analyst has expressed concerns about Bitcoin (BTC) and believes it may be forming a bearish pattern that has previously led to a collapse in late 2021.
The analyst, who goes by the name Rekt Capital, has shared with his 350,800 followers on X social media platform that Bitcoin is dangerously close to breaking down from a bearish double-top pattern.
Rekt Capital has suggested that if there is a sell-off event with increased volume, it could trigger the breakdown process.
