Pseudonymous crypto analyst Kaleo tells his 486,100 Twitter followers that he doesn’t believe Bitcoin’s downtrend will end at $30,000.
“So what happens next? They’re going to get you used to $30,000 like they got you used to $40,000. They’ll sell you on dreams of $40,000 like you were sold on dreams of $50,000. We’ll probably have a bounce that gets close… Capitulation will be out in full force. Bitcoin will once again be declared dead.”
In Late April, when Bitcoin was still trading above $40,000, Kaleo predicted that bears will push the top digital asset all the way down to $28,000. Over a month later, the crypto strategist says his roadmap is still valid.
“Bitcoin/BTC. Plenty of hate throughout this thread and yet somehow we’ve nearly made it.”
As Bitcoin is now trading close to his downside target, Kaleo predicts that BTC will establish a bottom in the coming days.
“We’ve had six weekly red candles in a row. This week will be number seven. Seven is a number of completion. Bottom will be in this week. If I had to guess $28,000/$29,000.”
At time of writing, Bitcoin is changing hands for $31,046.
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The post Crypto Analyst Says Bitcoin (BTC) Bottom in Sight After Six Weeks in Red – Here’s His Target Price and Date appeared first on The Daily Hodl .