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Bitcoin faces resistance and warning of deep correction from top strategist.

1 min read
Source: Cointelegraph
Bitcoin faces resistance and warning of deep correction from top strategist.
Photo: Cointelegraph
TL;DR

Bitcoin failed to break out of its tight trading range and remained below $28,000, with traders compressing the likely zone of movement for the spot price. Analysts predict two possible outcomes for BTC/USD: a grind with EMA trend or a bleed towards 1D range low and breakdown. Some remain optimistic about Bitcoin's path for the coming year, while others eye a potential long-term "double top" formation with a drop to $27,000. Calculations call for another bullish double top for Bitcoin in 2025, potentially peaking above $200,000.

Topics:businesscryptocurrency#bitcoin#bullish-prediction#cryptocurrency#double-top#liquidity#trading-range
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  1. Bitcoin barely holds $28K as bulls see new rejection at key resistance  Cointelegraph
  2. Analyst Who Perfectly Called Bitcoin Boom Issues Major Update to Crypto Traders  The Daily Hodl
  3. Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Crypto markets slide lower in search of reaccumulation zones  FXStreet
  4. Price analysis 4/5: BTC, ETH, BNB, XRP, ADA, DOGE, MATIC, SOL, DOT, LTC  Cointelegraph
  5. Top Crypto Strategist Issues Bitcoin Warning, Says Only a Matter of Time Before BTC Witnesses Deep Correction  The Daily Hodl

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