A generally followed crypto analyst says that the future of Bitcoin (BTC) remains unclear because the markets continue to show increased volatility.
In a new thread, pseudonymous crypto trader Altcoin Sherpa tells Are 242,200 followers on the social media platform X that all results are possible for the crypto king, and note that BTC will probably land somewhere between $ 75,000 and $ 100,000 within the following week.
“This market is very volatile and I think we can both send to $ 100,000 again or fall to $ 75,000 within the following week. All results are on the table and it is best to stay in cash (ready to monkey if necessary). Will not leave the computer in the coming days. ”
According to the Trader, the best crypto assets of the higher period of Market Cap is not provided Clarity about which direction it could go.
“BTC does not have much clarity at at all at higher time frames. Yes, it is back within reach and still above the 200-day EMA (exponentially progressive average) but [I really don’t know] What’s going on. Would still like to see $ 89,000 hold and in my opinion all the options are on the table with the volatility of tomorrow. “
Sherpa continues remark That traders expect for weeks or even possible months of choppiness before Bitcoin makes a big move. However, he says that BTC tends capitulate Before finding a bottom, examples from earlier cycles quote.
“Many people expect $ 70,000 $ 75,000 for BTC and it would not surprise me if those levels touched. Would be somewhat similar price action until 2021, where the price was consolidated for a few months before the gigantic move was down.
Do not necessarily know if we have ath (all time high) heels and go as we did in 2021, but will play the level to level. Anyway, we probably still have weeks/months chop to get through after this has been done. “
Bitcoin acts for $ 89,957 at the time of writing, an increase of 2.5% in the day.
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