Crypto analyst Killa cited declining cycle analysis, which helped him make his predictions. bitcoin top About $120,000. Based on this analysis, he suggested that BTC has not reached its lowest point despite the recent rally.
Decreasing cycle analysis points to a Bitcoin bottom at $38,800.
to X postKilla said cycle decline analysis, which is part of the modeling tool he used to predict Bitcoin highs, points to $38,800 as the predicted low. He noted that this was the same model that led to his highest prediction of $121,362. BTC eventually topping out That’s approximately $126,100.
Now the analyst’s base model outputs $38,800 as follows: expected bottom. He added that he included two multiples of $40,740 and $42,680 to account for the same 5% movement that offset Bitcoin’s top prediction. Killa pointed out that even at the high end of the range at $42,680, Bitcoin’s low is still below $60,000.
Therefore, Killa declared that Bitcoin bottom of $60,000 is very bullish in this bear market, considering the decline cycle analysis. He added that he will stick to his model and buy as much as he can, regardless of everything. Spot BTC Around July and August if possible. The analyst also noted that anything within the $40,000 to $60,000 range is a long-term bargain and that the predictions are purely based on math and patterns.
This analysis suggested that BTC’s recent rally near $80,000 may be a bulltrap and that BTC may still fall in the long term. Major cryptocurrencies and the broader cryptocurrency market are currently rallying on optimism that the US-Iran war may soon end.
BTC still has the potential to fall to at least $50,000.
Crypto analyst Doctor Profit, who predicted Bitcoin’s all-time high, reiterated that Bitcoin is still likely to fall to around $50,000 despite its recent rally. to X postHe said he was sure. BTC is visiting In the short term, we have higher goals. This, at least for the major cryptocurrencies, could result from a rally towards the $83,000 to $85,000 area before setting up for a major downside move.
Doctor Profit said it expects its target amount to remain below $50,000 in the coming months. Meanwhile, he predicted that the Federal Reserve will likely cut interest rates soon, which is weak for Bitcoin and could contribute to falling interest rates. next FOMC meeting It is scheduled for later this week, April 29th.
At the time of writing, the BTC price is said to be trading around $77,800 over the past 24 hours. data From CoinMarketCap.
Featured image from Getty Images, chart from Tradingview.com
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