Why one Bitcoin analyst expects sudden ‘hell’s candle’ plunge to $11.3K
An abrupt u-turn in liquidity is apt to take the Bitcoin spot price almost $2,000 lower, on-chain analyst Cole Garner predicts. Bitcoin (BTC) stayed above $13,000 on Oct. 27, but one analyst is warning that the largest cryptocurrency is due for a major correction.In a tweet on Tuesday, on-chain analyst Cole Garner forecast that BTC/USD could soon end its bull run and suddenly move lower in a “Hell’s candle” event on the daily chart.Garner to traders: “Watch your ass”Garner eyed Brave New Coin’s Bitcoin’s liquid coin index (BLX), a price calculator designed to assess at which price points....
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Bitcoin price is now over $13,550 and only a few hundred dollars away from setting a higher high and confirming a bull market. But also right around the corner, according to one top crypto analyst, is a “hell candle” in Bitcoin that will crush the cryptocurrency’s recent rally and potentially cause a reversal. Beware Of […]
Since last week’s Market Wrap Up, Bitcoin has taken a dive in price, dipping 2.25% from a high of around $244 to $236.50 as of press time. Compared to the mid-week update over on BTC.com, the change is much more sudden as the plunge from $244 to $236 occurred in the later hours of May 13. There seems to be no bad “seed” of news that whales could be using to manipulate the price. However, Bitcoin does not take a nosedive without a reason; chatter on social media channels are hinting at “calm before the storm” scenarios, with this price dive serving as a last-minute opportunity to accumulate....
All throughout 2020 Bitcoin price has been unusually correlated to major US stock indices such as the S&P 500. And with stocks at risk of another Black Thursday like plunge, analysts fear that it could once again take cryptocurrencies down with them. One Bitcoin expert, however, expects the cryptocurrency to soon “decouple” from traditional markets, but its likely not for the reasons you would otherwise expect. Here’s why the crypto market could soon get back […]
Amid the calls for new all-time highs for Bitcoin, one analyst is going against the trend and calling a crash. The prediction not only expects Bitcoin to break below the $100,000 level, which many believe was already left in the past, but to actually fall by more than 60% from here. The analysis, which depicts a flash crash, shows a possible price reversal into levels not seen in years. Entering A Bitcoin Short With Conviction The crypto analyst who goes by the pseudonym Dick Dandy revealed that their next move was to enter into a Bitcoin short position between $121,400 and $121,700.....
An analyst from the biotech consulting group Biotechvalley Insights believes after bitcoin lost 53% from the crypto asset’s all-time high, “the party is clearly over.” The biotech consulting group analyst thinks crypto investors will witness a slow “grind down the slope of hope with a periodic dead cat bounce” and expects prices to drop to $15,000 in the next few weeks. **Editor’s note: This article was updated at 4:55 p.m. (EST) to reflect a comment from a Bitcoin.com News reader who commented on the Biotechvalley Insights’ analyst’s....