The crypto strategist who has reached the end of the Bitcoin (BTC) bull market in 2021 is warning of a market correction.
Pseudonymous trader Pentoshi tells his 696,600 Twitter followers that he continues to believe that Bitcoin will cross the $32,000 level.
However, he cautions that a correction is likely to follow as investors trade on the fear of missing out (FOMO) and overindulge themselves, paving the way for a dip.
“BTC: As we get closer [the] $32,000 area, when you’re finally thinking about getting tall, it’s time to question what you’re focusing on, if so. I think if we get a bigger correction, it’ll get out of that $32,500 area where late longs come in and people start overusing.
Looking at his chart, Bitcoin’s main support levels are around $29,100, $26,600, and $25,100.
Earlier, Pentoshi said that Bitcoin’s latest pullback met his forecast of a BTC retracement below $30,000 and that Bitcoin still looks poised to move higher after holding support around $30,000.
So is the trader prediction that Bitcoin will hit a new all-time high of $180,000 in 2026, and he predicts a floor price level in that cycle of $69,000.
“The year is 2026, BTC is trading at $180,000.
People say, ‘We’re so early.’
You say, “Great.”
They say, “This time is so different.”
You buy back for $69,000.
Bitcoin is trading at $30,517, down 0.6% over the past 24 hours.
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