Bitcoin Could Fall Below $ 55,000 After All-Time All-Time Breakthrough: Crypto Analyst

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Despite Bitcoin’s breakthrough to new all-time highs, a closely followed crypto-trader believes Bitcoin (BTC) could still drop below $ 55,000 before rising higher.

The pseudonymous analyst known as Cantering Clark tells his 79,000 Twitter followers that the price zones around $ 55,000 and $ 65,000 could be key entry levels for Bitcoin investors looking for a breakthrough race.

“When it comes to fluctuations and the significant deployment of capital, those are the only two areas where I would get really aggressive. If the fall scares you, return to a similar structure in February. “

Source: Cantering Clark / Twitter

The crypto-trader adds that he waits for Bitcoin to decide between another retest or an immediate breakout before entering another position.

“My positioning –

Always out of positional swings / trades until the ATH is recovered [all-time high] for BTC.

By only focusing on activity of lesser duration unless Bitcoin recovers that level or goes down to test a significant level. “

Cantering Clark’s prediction of a possible drop to around $ 55,000 comes as he highlights Bitcoin’s less-than-stellar performance after briefly breaking its previous all-time high of around $ 64,000.

“One problem with Bitcoin, in particular, is that everyone looks to the behavior of the previous cycle to confirm the current behavior, in something that is a little over a decade old. and diet, you should expect new things to happen, like a dull ATH station wagon for example …

Yes. dull. If a level is deemed very important by the market, then the response and level of participation at that level should be significant.

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Featured Image: Shutterstock / Warm_Tail

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