Frightening Statements from a Famous Name: Bitcoin Selling Pressure May Last for Four Weeks!

Mt. Bitcoin could be headed for a month-long correction as newly created selling pressure from Gox and the German government threatens to sink the Bitcoin price below the psychological level of $60,000. According to popular Bitcoin analyst Willy Woo, Bitcoin price may experience a four-week correction before continuing its rise.

Popular analyst Willy Woo made the following statements on the subject in a post he wrote to his more than 1.1 million followers on the social media platform X on June 22:

“There will likely be another 1-4 weeks of cooling off before Bitcoin price action gets boring enough to keep an eye on this pattern. In other words, Bitcoin price movement will witness a dull period and then the price will rise.”

The potential monthly correction is in line with the predictions of popular crypto analyst Rekt Capital, who expects further downward pressure on the Bitcoin price based on last week's closing price. The analyst wrote in a June 17 report:

“A Weekly Close below the blue level was preceded by rejections from here, where the blue level will transition to a new rejection point. Bitcoin is potentially setting itself up for the same fate.”

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