Economist Henrik Zeberg is doubling down on his Bitcoin (BTC) top price prediction despite what he says are signs of a stock market topping.
In a new one interview with Ran Neuner on the CryptoBanter YouTube channel, Zeberg predicts a move above the $78,000 level early this week as the election results come in.
“I look at the charts and I see that we are going to see a very big move… Normally after elections we see a very strong move, and that is what we see lining up for Bitcoin. I think [Bitcoin] will do very well. I think we’ll be above $78,000 on Tuesday when we have the election. We can take a good step here in the coming days. I am not bearish on those markets here or today.”
However, the chartist believes that the time to get out of risky assets like Bitcoin and stocks is likely sooner than most expect. According to Zeberg, the Dow Jones likely has already reached or is in the process of reaching a cycle high before entering a major correction that could coincide with an economic downturn in the US.
Zeberg shares a chart that suggests a 60% crash is coming for the Dow Jones.
“If you go back in time and look at these candles, they are associated with market tops. That’s why I say we don’t necessarily see the top being there – it could go to 44,500 [points] on the Dow Jones and I am long crypto as well as the stock market – but that is coming to an end, and we are getting close to it. And the end is getting closer, much closer.”
As for Bitcoin, Zeberg is targeting the $115,00-123,000 range, based on Fibonacci levels and historical rising resistances.
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