CandleFocus Bitcoin Analyst Sees Recent Pullbacks as Bullish Signal
2024-09-10
Author: Content Editor
A Bitcoin analyst on the Thinking Crypto podcast believes that recent dips in Bitcoin's price were a strategic move by whales to set the market up for a sustained bull run. The analyst compared BTC's chart patterns to historical trends and pointed out that notable rallies usually occur in the years following the Bitcoin halving event. The analyst also highlighted similarities in the pullbacks experienced by the ETH/BTC pair before parabolic bull runs. The analyst predicts that Bitcoin could reach as high as $150,000 in the current bull cycle and warns traders to be cautious of the Fear Of Missing Out (FOMO) that could drive the price up to $250,000. The analyst advises tracking the market closely and setting stop-losses as FOMO kicks in, as FOMO volume is unsustainable and can disappear quickly.
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