Popular Crypto Analyst Kaleo: Bitcoin’s (BTC) Bottom Is In Horizon
According to a top crypto analyst, known as Kaleo, the end of Bitcoin’s (BTC) correction is finally on the horizon after trading in red for six consecutive weeks.
The analyst, who has for a while been warning his followers of further downside for BTC, shared with his 498.2K followers on Twitter that he doesn’t see Bitcoin’s downtrend to stop at $30K.
“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.”
Capitulation will be out in full force.
Bitcoin will once again be declared dead.
This is where you’ll find the greatest opportunity.
Where you’ll be forced to decide which voice is louder – your conviction, or the crowds laughing at you for ever believing in the first place.
In April, when BTC traded above $40K, Kaleo projected that bears will drag it all the way down to $28K. About a month later, he is still firmly standing behind his thesis, despite feeling the wrath of some of his bullish followers.
“Plenty of hate throughout this thread and yet somehow we’ve nearly made it.”
As BTC is closing in on Kaleo’s target, he projects that the leading digital asset will hit 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, BTC trades at $29,194, down 5% on the daily chart.
