Crypto analyst Snow said: bitcoin topDeclared that BTC will not reach $116,000 next year. He made this comment while downplaying the recent market recovery, claiming it was nothing more than a deadcat bounce.
Analysts say Bitcoin will not exceed $116,000 next year.
to X postSnow said Bitcoin will bounce but will not exceed $116,500 over the next 365 days because the algorithm is printing a new upper limit. He also warned that this was just a simple thing. dead cat bounce This is why the analyst believes traders should not get their hopes up for continued bullish momentum.
Snow pushed Bitcoin to a new high by selling the flagship cryptocurrency when it was currently trading near its all-time high (ATH) of $126,000. Here’s the analyst’s latest opinion: BTC rises above $90,000This has provided optimism that the bull market may still be underway and that the market cycle is likely to be extended.
But the analyst argued that the “supercycle” story is a lie sold to market participants by those who should be holding the bag. He also revealed that he is still looking for short positions rather than long positions as he expects a bigger BTC crash. cryptocurrency analyst Colin also suggested this recently. The current market recovery is a Dead Cat bounce.
The analyst said there is an 80% chance that BTC is already in the market. bear market. Meanwhile, he pointed out that there is only a 20% chance that the flagship cryptocurrency will hit an all-time high with this rebound. However, Colin predicted that this recovery could see Bitcoin reach between $100,000 and $115,000.
BTC rally is about to begin
cryptocurrency analyst Titan of Crypto Indicator The idea is that Bitcoin will soon witness a rally that could push it past the psychological $100,000 level. This comes while noting that rallies typically follow the 10-day stochastic RSI. bullish crossover. However, the analyst added that the real question is whether this rally will be strong enough to break ATH or simply a dead cat bounce confirming the end of the bull market.
Analysts say it is currently 80% bearish and 20% bullish. However, cryptocurrency analysts I believe in CrediBULL cryptocurrency He said the bull market is still continuing unless Bitcoin falls below $74,000, which he highlighted as a key high period level. with monthly deadline The analyst said a break above $93,000 would be a positive sign, while a break above $102,000 would be “incredibly bullish.”
At the time of writing, the price of Bitcoin is said to be trading around $91,450, having risen over the past 24 hours. data From CoinMarketCap.
Featured image from pngtree, chart from Tradingview.com
editing process for focuses on providing thoroughly researched, accurate, and unbiased content. We adhere to strict sourcing standards, and each page is diligently reviewed by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of the content for readers.
