Bitcoin · Bitcoinist
Analyst Who Predict Bitcoin Top And Bottom Shares When Price Will Start To Rise Again
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Following Bitcoin’s (BTC) price bounce above $82,000 and a subsequent rejection, the cryptocurrency has been in a major decline, with a market analyst now calling for a fresh bottom.
Key facts
- From this point, he expects the cryptocurrency to decline to $61,000, then drop again to $47,000, representing a more than 40% loss from present prices
- Kabuki has outlined a projected bearish path from BTC’s current levels around $79,000
- Following Bitcoin’s (BTC) price bounce above $82,000 and a subsequent rejection, the cryptocurrency has been in a major decline, with a market analyst now calling for a fresh bottom
- The analyst believes that prices are about to enter a freefall all the way down to $40,000 before this cycle
Summary
Kabuki, a crypto market analyst who previously forecasted Bitcoin’s last price top and 2022 bear market bottom, is now sounding the alarm, warning that the leading cryptocurrency has not yet seen its lowest point this cycle. In a recent X post, Kabuki said that Bitcoin’s current price structure perfectly mirrors a downward zigzag pattern known to signal a cycle bottom. According to the analyst, Bitcoin’s bull trap formation and recent relief rally are signs that history is repeating itself and the cryptocurrency is playing out as he anticipated. Kabuki has outlined a projected bearish path from BTC’s current levels around $79,000.