Crypto Analyst Kaleo Projects Further Downside For Bitcoin (BTC)
According to a widely followed crypto analyst, known as Kaleo, Bitcoin (BTC) looks to move lower again.
The analyst shared with his 473.4K followers on Twitter that he is keeping a close eye on BTC’s price action on the lower timeframe.
Bitcoin looks to be mimicking its market structure back in June 2021, when BTC crashed from $41K all the way down to $28K, Kaleo notes.
“Bitcoin/BTC
If anything, I see current structure looks more similar to what we saw in mid-June”
If Bitcoin plays according to Kaleo projection, it is going to revisit the $32K level, which is about 15% down from BTC’s current value.
A fellow crypto analyst Michaël van de Poppe, is also predicting similar move down. He shared with his 574.7 followers on Twitter he believes Bitcoin remain at around $35K levels before hitting a local bottom and moving up above $39K.
“Bitcoin is following this path.”
At the time of writing, BTC is trading at $38,372, down 11% on the weekly chart.
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