Bitcoin's Final Dip Predicted by Crypto Analyst: Upcoming BTC Bull Market Targets Revealed
Crypto analyst predicts a final downward move for Bitcoin (BTC) before the onset of a fresh bull market.
On social media platform X, Pseudonymous analyst Inmortal informs his 198,700 followers that Bitcoin might experience a sharp correction near the $20,000 mark before skyrocketing past $50,000. He labels it the 'last dip ever'
Inmortal observes that Bitcoin's current price trend resembles its behavior in late 2019. Back then, BTC fell past its support near $10,000, plunging down to around $6,000. He provocatively adds, 'Imagine the smell.
Based on the trader's chart, BTC is forecasted to first drop below $24,000, then rally to around $30,000. This surge seems set to be followed by a sharp decline to the $21,000 mark. Currently, Bitcoin trades at $26,063.
For Ethereum (ETH), the leading smart contract platform appears set to move in an upward triangle pattern in the next months, with a breakout expected by early 2024. The analyst notes, 'By 2025, many would wish to revisit this period, with over 500 days of accumulation and consistent macro higher lows. This period marks my top pick for bear market accumulation.
Inmortal's chart suggests Ethereum might surpass the $3,000 mark by early 2024. Currently, Ethereum trades at $1,653
Aug 28, 2023