Crypto analyst Rekt Capital warns that Bitcoin is approaching a historical "danger zone" in its market cycle, typically leading to significant price retracements, as the BTC halving event approaches in mid-April. Despite being halfway through the pre-halving rally, potential dips and reaccumulation periods are expected, with BTC currently trading at $69,572. Investors are advised to conduct due diligence before making high-risk investments in Bitcoin or digital assets.
Crypto analyst Justin Bennett warns that Bitcoin could see a further 20% drop based on the Tether dominance chart, despite its recent rally to around $42,000, with a potential downside target of $30,000. He also notes that a strong US dollar index suggests a bullish reversal, which could put pressure on risk assets like stocks and crypto. Bennett's analysis indicates that investors may be moving their money into the US dollar and away from Bitcoin and other cryptocurrencies.
A prominent crypto analyst, known as DonAlt, who accurately predicted the crypto bottom in November 2022, has revealed a new long position on Bitcoin (BTC) at around $27,000. DonAlt's bullish thesis will be invalidated if BTC drops to approximately $24,000. Another trader, Credible Crypto, is also bullish on Bitcoin, stating that it has "launched" and could see significant gains. However, Credible Crypto warns that altcoins may face a challenging period as liquidity flows back into Bitcoin. Bitcoin is currently trading at $29,500.
A crypto analyst with a large following suggests that Bitcoin's bear market is over and a bullish expansion is imminent based on several high timeframe indicators. The analyst points to Bitcoin's Bollinger bands, which have compressed enough to indicate a likely breakout to the upside. Additionally, the altcoin market is also showing signs of a breakout. The analyst compares Bitcoin's support at the beginning of a long-term bullish impulse with the breaking of a downward resistance in the OTHERS chart, which measures the market cap of all crypto assets except BTC and ETH.
Crypto analyst Jason Pizzino believes that Bitcoin may experience a "grinding bottom" phase for the next couple of months before entering a bullish trend again. Comparing the current scenario to a previous market crash, Pizzino suggests that Bitcoin could remain in its current pattern until November, December, or the first quarter of 2024. Bitcoin's price is currently at $26,476, showing a 2.5% increase in the past 24 hours but a 7% decrease in the past seven days. Pizzino is looking for Bitcoin to surpass $27,800 on the daily chart to indicate strength and a potential upward movement. He also believes that it is unlikely for Bitcoin to drop to new market cycle lows, considering its historical behavior.
Crypto analyst Kaleo predicts that Bitcoin (BTC) will surpass $100,000 in late 2024 or early 2025, shortly after the next halving event expected in April 2024. Kaleo also notes that Bitcoin's price action against the Nasdaq 100 index suggests a potential massive rally for the cryptocurrency. At the time of writing, Bitcoin is trading at $30,676, up 1.3% in the last 24 hours.
Crypto analyst DonAlt, who accurately predicted the 2022 market bottom, is excited about Bitcoin's current price action, which he finds more exhilarating than the "garbage" action that preceded it. Despite BTC's recent breakdown, DonAlt believes the rally from $15,000 still has fuel left and could be invalidated with a close above $27,000. He previously called the $25,000 range "the line in the sand," but now says it has lost its relevance as BTC is chopping right below it. Bitcoin is currently trading at $26,772, a 2.11% gain in the last 24 hours.
Crypto analyst Kaleo predicts that Bitcoin will experience a violent move to the upside after reclaiming a high timeframe support level, with a price target of over $40,000 by July. He also believes that Ethereum will quickly reclaim the $2,000 level and has more room to run. However, investors should do their due diligence before making any high-risk investments in Bitcoin or cryptocurrency.
Crypto analyst @cryptunez predicts that Pepe will overtake Shiba Inu as the second largest meme coin by market cap before 2025, citing Shiba Inu's overvaluation and lack of originality. Pepe's low token price and maximum supply of 420 trillion make it an enticing investment, with its recent correction presenting an undervalued buying opportunity. While neutral to bullish on Dogecoin, Tunez believes the appeal of a low market cap, high supply coin now belongs to Pepe, not Shiba Inu.
Crypto analyst Aurelien Ohayon predicts that Bitcoin is only weeks away from a massive parabolic surge well into the six-figure price range, based on the double exponential moving average (DEMA) crossing above the weekly median high and low (HL), the weekly Chande Kroll Stop indicator, and Bitcoin's post-Covid crash price action from 2020. At the time of writing, Bitcoin is worth $28,608.
Bitcoin's market sentiment remains shaky as regulatory pressures take a toll on the cryptocurrency, causing it to drop below $27,000. Traders remain uncertain about the future of BTC, with some placing bullish bets on a potential rebound. However, the market's volatility and the weekly death cross between the 50 and 200 MA suggest choppier days ahead. Meanwhile, new meme-coins are rising in popularity, stealing BTC's thunder, and the EU has passed the Markets in Crypto-Assets Act (MiCA) to standardize regulations and establish harmonized rules for crypto assets across the European Union.
Crypto analyst DonAlt sold a significant portion of his Bitcoin holdings at around $28,700 after spotting potential warning signs in the top cryptocurrency’s price movements. While he sees the potential for a short-term pullback, he believes BTC’s overall bull trend is intact. DonAlt says the daily chart is showing warning signs, signaling the potential for a sharp and quick pullback, but even if BTC pulls back, he thinks it will be a quick one.
A crypto analyst predicts that Bitcoin will break a macro downward resistance in April, which has kept it bearish since hitting its all-time high in 2022. The analyst notes that Bitcoin tends to break macro downtrend around a year before its upcoming halving, which is slated for April 2024. Another factor favoring Bitcoin is a quarterly bullish engulfing candle, which historically has preceded multiple quarters of upside. Meanwhile, another analyst points out that Bitcoin now plays a different role in investors' portfolios than it has in the past, as it is now an effective way to preserve wealth and store value.
Crypto analyst Benjamin Cowen warns that regulatory uncertainty means Bitcoin (BTC) will likely dominate other digital assets, and that the altcoin market does not always follow Bitcoin after rallies. Cowen is also keeping a close watch on the Bitcoin Dominance index (BTC.D), which tracks how much of the total crypto market capitalization belongs to the king crypto. According to Cowen, BTC.D will likely take out its critical resistance area citing uncertainty in the altcoin markets due regulatory pressure.
