Analyst Warns Ethereum Merge Mania Blinds Crypto Traders, Says Hammer Will Fall on Unsuspecting Investors
The Bitcoin (BTC) analyst who predicted the crypto’s latest market crash is re-emphasizing an old warning about new lows to come.
August 2 pseudonym trader warned his 475,000 Twitter followers that BTC would bounce to the $25,000 area before crashing to new lows.
“$25,000-$25,500, then new lows.”
With BTC reaching as high as $24,750 in the last 24 hours, Capo mean BTC’s new lows are closer than ever.
“Almost there.”
Specifically, the trader thinking BTC is about to crash down to the $16,000 region, undercutting Bitcoin by about a third from today’s prices.
“BTC
The volume dies. Channels are not impulses, but corrections.
Most expect $28,000 or higher, but the big level is $25,000-$25,500.”
The businessman continued elaborated in the comment field.
“‘Inflation Falls, Bull Market Is Back, Mergers, Net…’ [Crypto trading] is wonderland, where there is no risk.
Let me tell you: this is a bear market rally. Don’t be blind. If you’ve made some money, congratulations. But now it’s time to start protecting them again.
Last leg up, that is [hammer].”
The merchant updated his Twitter followers again this Friday morning, warning that a showdown is just around the corner.
“One last high to right early shorts.”
Again the trader pulls out his point in the comment field.
“Quick leg up to $25,000-$25,500, destroying early shorts and catching more longs expecting $28,000 or higher. Then reversal to new lows.”
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Featured image: Shutterstock/NanamiOu/Tomasz Makowski
