Analyst believes a large shakeout is coming for the crypto community.
He encourages traders to hold strong and DCA to make the best of the coming bull run.
Bitcoin (BTC) will beat $100,000 and surpass $200,000 by 2025 end in analyst’s eyes.
As the price of Bitcoin (BTC) tries to break out over the resistance of the $57,000 price target, analysts take a moment to study the charts. According to many, a massive price dip towards $40,000 - $47,000 for BTC is heading for the market and one analyst is calling this a massive Bitcoin shakeout.
Crypto Market Heads Toward Major Shakeout
The analyst encourages traders to stay vigilant so as not to fall for the trap he expects to be playing out. He highlights that in the next 2-3 weeks, Bitcoin will likely face a final leg down before the bull run begins. He observes that panis is everywhere and many analysts are calling for $40,000 believing the bull run to be over.
https://twitter.com/VirtualBacon0x/status/1833296024666038395
He then goes on to break this belief saying that even if the price of Bitcoin (BTC) dips to any number in the $40,000 price range, this does not mean that the bull run is over. In fact, the analyst remarks, this is a historical period playing out once more and it is the phase where holders are shaken out before the bull run starts.
Analyst Shares Tips to Survive the Fall
Advising traders and holders to stay calm, the analyst confirms that Bitcoin will not be going into a bear market anytime soon. Stating that a long-term bear market is unlikely, the analyst says expecting lower highs and lower lows is more likely as well as downtrend signals.
He says that the real drivel for the bull run will come from the Fed’s liquidity injection and rate cuts that’ll propel the crypto market into a bullish 2025 bull run. He then goes on to mark the 100-week EMA which usually marks the end of the bear market. In 2015 & 2019, Bitcoin bounced off this level before its rally. This time, it's sitting at around $45,000.
Next, he highlights multiple technical indicators from Fibonacci retracements to high-volume nodes. Therefore, he says that even if Bitcoin dips to this level, it’s likely a wick before a bounce, not a prolonged drop.
He ends his message with a strong statement of holding strong on fundamental assets and removing all leverages. The analyst also recommends starting to DCA, building a buy list, and most importantly, stopping trading. The post ends with an expectation for Bitcoin to break $100,000 and $200,000 by the end of 2025.
The post Analyst Warns of a Huge Bitcoin Shakeout Incoming, Shares Crucial Tips to Avoid the Trap appeared first on Crypto News Land.
