Cryptanalyst Holeyprofit published an unexpected forecast for Bitcoin, which has recently grown significantly. In his opinion, the recovery will attract investors who think Bitcoin will continue to rise. But he warned that this would be a bull trap and a downward trend would soon begin. Therefore, he suggests exiting Bitcoin and opening short positions.
“We are seeing an early break in the uptrend and it may just be a pullback. Even during a bull market, pullbacks are likely, so going short at $34K/$35K seems like a smart move.”
Author: Midjourney
Holeyprofit’s analysis has sparked controversy among Bitcoin bulls, but the analyst remains confident in his opinion. Even after the price of Bitcoin continued to rise, he claims that the cryptocurrency will fall by 75% towards the $8,000 level.
In the latest report, the analyst indicates that the cryptocurrency market is on the verge of starting a downward trend. The level near $34,700 failed to hold on Sunday and fell back to $34,200.
2023-10-31 10:15:17
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