Bitcoin is currently riding a bullish wave amid rising market optimism, leading the largest crypto asset to a new all-time high. However, one crypto analyst has warned that BTC’s price rally may not be favorable for late investors, suggesting a strategic approach from new entrants to minimize losses during the market downturn. pullback,
Latecomers to Bitcoin investors face greater risk
In an informative post on the X (formerly Twitter) platform, veteran market expert and trader Ali Martinez said, caution Bitcoin investors of late say there could be volatility in the near future as the digital asset moves closer to key barrier levels.
Experts advise that although the long-term outlook for BTC is still promising, investors should be aware of short-term price fluctuations and Difficulty Investing in an already established bull market. This simply means that BTC’s recent rally could be followed by a sharp correction in the coming days before reaching higher highs once again.
Ali Martinez made a cautionary post suggesting an imminent selloff, citing a sell signal from the key Tom DeMark (TD) Sequential indicator on the 4-hour time frame. price correction, Possibly to the $72,000 level.
Although market experts anticipate a return to the $72,000 mark, they believe this bearish position may be invalidated and a rally A move up to the $78,000 level would be initiated with a sustained close above $75,400.
Martinez’s forecast comes in light of the recent surge in market optimism and growing confidence in BTC’s future, as seen by major market participants and enthusiasts expecting a rally to unprecedented levels.
It is important to note that Martinez’s near-term outlook peak for Bitcoin lies in the $85,000 range. crypto expert Hope Once the digital asset reaches $78,000, there is a run to the decisive level to materialize.
However, the road to the $85,000 target may not be easy as experts envision a possible pullback to $71,500 after reaching $78,000 before an upward move to $85,000. “It is going as predicted. I think Bitcoin Reached $78,000, pulled back to $71,500, and then pulled back to $85,000,” he said.
Momentum is key for BTC’s entry into uncharted territory
As btc Approaching several resistance levels, crypto analyst Negentropic has pointed out that a strong momentum is crucial for the digital asset’s future growth. negentropic Thrown light on Bitcoin has been stuck in bullish territory for almost a month after making a double bottom around $60,000 in October, which was followed by a familiar trend that reached previous all-time highs.
According to the expert, maintaining this new momentum is essential for its next rally. Thus, should this optimistic trend continue, Negentropic believes the development will further solidify BTC’s direction into uncharted territory, preparing it for an even “higher peak.”
Featured image from Unsplash, chart from tradingview.com
