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Analyst Warns of a Huge Bitcoin Shakeout Incoming, Shares Crucial Tips to Avoid the Trap

CryptonewslandCryptonewsland2024/09/10 12:12
By:Cryptonewsland
  • Analyst believes a large shakeout is coming for the crypto community.
  • He encourages traders to hold strong and DCA to make the best of the coming bull run.
  • Bitcoin (BTC) will beat $100,000 and surpass $200,000 by 2025 end in analyst’s eyes.

As the price of Bitcoin (BTC) tries to break out over the resistance of the $57,000 price target, analysts take a moment to study the charts. According to many, a massive price dip towards $40,000 – $47,000 for BTC is heading for the market and one analyst is calling this a massive Bitcoin shakeout.

Crypto Market Heads Toward Major Shakeout

The analyst encourages traders to stay vigilant so as not to fall for the trap he expects to be playing out. He highlights that in the next 2-3 weeks, Bitcoin will likely face a final leg down before the bull run begins. He observes that panis is everywhere and many analysts are calling for $40,000 believing the bull run to be over.   

🚨 Huge Bitcoin Shakeout Incoming! Don’t Get Trapped🚨

In the next 2-3 weeks, #Bitcoin could experience its final leg down before the bull run begins. Panic is everywhere—people are calling for the low 40Ks, saying the bull run is over.

But is this the right way to think?…

— VirtualBacon🦇🔊 (@VirtualBacon0x) September 10, 2024

He then goes on to break this belief saying that even if the price of Bitcoin (BTC) dips to any number in the $40,000 price range, this does not mean that the bull run is over. In fact, the analyst remarks, this is a historical period playing out once more and it is the phase where holders are shaken out before the bull run starts.

Analyst Shares Tips to Survive the Fall

Advising traders and holders to stay calm, the analyst confirms that Bitcoin will not be going into a bear market anytime soon. Stating that a long-term bear market is unlikely, the analyst says expecting lower highs and lower lows is more likely as well as downtrend signals.

He says that the real drivel for the bull run will come from the Fed’s liquidity injection and rate cuts that’ll propel the crypto market into a bullish 2025 bull run. He then goes on to mark the 100-week EMA which usually marks the end of the bear market. In 2015 & 2019, Bitcoin bounced off this level before its rally. This time, it’s sitting at around $45,000.

Next, he highlights multiple technical indicators from Fibonacci retracements to high-volume nodes. Therefore, he says that even if Bitcoin dips to this level, it’s likely a wick before a bounce, not a prolonged drop. 

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He ends his message with a strong statement of holding strong on fundamental assets and removing all leverages. The analyst also recommends starting to DCA, building a buy list, and most importantly, stopping trading. The post ends with an expectation for Bitcoin to break $100,000 and $200,000 by the end of 2025 .

disclaimer read more

Crypto News Land, also abbreviated as "CNL", is an independent media entity - we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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