Trader Who Correctly Called Latest Vicious Bitcoin Sell-Off Now Sees Imminent Upsurge To $70,000

Trader Who Correctly Called Latest Vicious Bitcoin Sell-Off Now Sees Imminent Upsurge To $70,000
фото показано с : zycrypto.com

2021-4-20 18:39

Macro trader Loma had previously forecast that BTC would trap bulls with a fake breakout in the run-up to Coinbase’s blockbuster direct listing on Nasdaq, a prediction that came true recently as bitcoin crashed.

Bitcoin had a depressive weekend session as the crypto violently crashed to $52,000, resulting in a wave of liquidations in the futures market. For perspective, BTC dropped from $60,500 to around $52,000 in the span of hours after rumors that the United States government was preparing to charge anonymous financial institutions with money laundering using cryptocurrency. 

Other reports claimed that the meltdown was a result of a drop in the bitcoin hash rate which resulted from a power outage in Chinese mining regions. However, as the old adage goes: correlation does not imply causation.

All in all, trader Loma believes the bottom is in after this fierce correction. In fresh analysis on late Sunday, he noted that $70,000 is now on the horizon.

“$50k bottom. Run it back, turbo[…] I would celebrate being right but being correctly bearish in a bull market feels like shit. Send this shit back up, $70k imminent.”

Loma further observed that the bull run is far from over as he doesn’t think the crypto market has reached a top. “This would be the weirdest top I’ve seen. Pullbacks are part of the process. If you’re bullish, pullbacks are what you need to compound your gains even further. Hence, where BULLISH SELLING comes from,” he said.

BTCUSD Chart By TradingView

Notably, bitcoin swiftly recovered to circa $53,000 and has since maintained above $55,000. It is crucial for bitcoin to recapture $57,000 in the short-term as it would confirm that the weekend market drawdown was a purely technical-driven pullback — and not related to the fundamental factors. This will strengthen the case for further gains.

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Источник: zycrypto.com

bitcoin trader → Результатов: 126


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2019-9-26 14:37


Фото:

Trader: bears won the short term fight for Bitcoin, what happens next?

Subsequent to the near 20 percent pullback in the Bitcoin price, trader Nick Cote said that bears won the short term fight with more room for a deeper correction in the cryptocurrency market. More than $600 million worth of long contracts were liquidated on BitMEX on the day the Bitcoin price plunged to $8,000, causing […] The post Trader: bears won the short term fight for Bitcoin, what happens next? appeared first on CryptoSlate.

2019-9-27 14:37


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The Austrian Financial Market Authority, FMA, is warning the public against doing any business with cryptocurrency investments websites dubbed Bitcoin Trader. Speaking on Wednesday, the regulator said that, despite the entity carrying out businesses in the country, it hadn’t been granted the licenses to operate yet. In an announcement, FMA said that Bitcoin Trader is […]

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Bitcoin Correction Will Spawn New Parabola, Says Veteran Trader Peter Brandt

Bitcoin price took a surprising tumble after some inexplicable kerfluffle at BitMEX and traders are now wondering if the current rally has been compromised. Strong Correction Breaks Bitcoin’s Parabolic Advance Yesterday’s massive liquidation at BitMEX has the entire crypto-world up in arms and concerns about broken parabolas, fat fingers, wonky algos, and outright manipulation are setting every chatroom and journal on fire.

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