Crypto Analyst Kaleo Warns Bitcoin Traders Of Further Downside
A widely-followed crypto analyst, known as Kaleo, issued warning to Bitcoin traders that BTC has unlikely bottomed out yet.
The trader shared with tells his 478,7K followers on Twitter that Bitcoin is going to visit the lows last seen in mid-2021 or what he calls “Goblin Town.”
The analyst says that Bitcoin BTC is moving within a wedge, and will fall out of it in the next few weeks, and will bottom out at around $28,000.
According to Kaleo, losing support at $38,500 in the coming days could pull Bitcoin down to $32,000 area, while a weak push above $41,000 wouldn’t be enough to launch a rally up.
“How many legs down are you going to stay bullish?
Will another wick to $41K make you double down? because still a solid chance that’s possible from here without changing the big picture one bit”
like, how many legs down are you going to stay bullish?
Will another wick to $41K make you double down? because still a solid chance that's possible from here without changing the big picture one bit
More I watch price action play out, more I believe we'll see something like this happen over the next couple of weeks.
Continuation of range followed by a clean break below support so *technically* the box will be filled, just won't hold for long when it does. pic.twitter.com/JZZ2ntUnl0
