Crypto strategists who predicted the top of Bitcoin in January have warned that BTC’s rally could be abruptly ended.
Pseudonymous Bluntz informs his 318,200 followers via the social media platform X, that Bitcoin is forming a divergence in the negative direction on the daily chart.
Bearish reversal signals indicate that the bullish trend is slowing down, even if an asset is trading higher or in a sideways direction.
Says Bluntz,
Although it is unfortunate to see it before new all-time records, it’s at least the first since last year.
“I would caution you to be careful when using longs.”
Bitcoin currently trades for $105,546.
The analyst, when referring to gold believes the precious metal will ignite a rally that could reach a record high once it has completed an ABC correctional wave.
Bluntz uses the Elliott Wave Theory, according to which a bullish investment will continue on its upward trend after an ABC Correction.
A trader shared a chart that suggested gold would rally to new highs of $3600.
Gold is currently worth about $3,221.
Bluntz believes that the altcoin Floki will dip down to about $0.00008, before exploding up to $0.00018.
I would be interested in receiving bid pullbacks for the fib of 50 if it were given.
I’ve always loved this song.”
FLOKI’s value at the time this article was written is $0.000098.
Join us at X@InvCryptoDaily and don’t miss a beat – subscribe to receive email alerts directly in your mailbox ___________________ ___________________
Sources of Images include Pixabay Creative Commons & Midjourney
This article Trader Warns Bitcoin Flashing Bearish Reversal Sign, Says that Gold is Gathering Steam to Next Leg up appeared first on The ICD.
This site is for entertainment only. Click here to read more
