A crypto analyst who correctly predicted Bitcoin’s recent flash crash is now predicting another big price swing. Let’s dive into the details.
The Flash Crash and What Followed
Bitcoin took a wild ride recently, plummeting from around $97,000 to $94,000 in under 30 minutes! This caused a massive $1.5 billion in liquidations as traders scrambled to limit their losses. But Bitcoin bounced back quickly, and now analysts are looking ahead.
A New Prediction: $130,000
TradingView analyst “Setupsfx” accurately called the flash crash. Now, they’re predicting another dip before a massive surge. Their chart shows Bitcoin finding support around $96,000 after a short correction. This, they believe, will set the stage for a rally towards a new all-time high of $130,000.
The analyst’s chart highlights several key technical indicators, including accumulation zones, Fair Value Gaps (FVGs), order blocks, and Breaks of Structure (BOS). These indicators suggest a pattern consistent with a significant price increase.
Current Bitcoin Price and Market Sentiment
At the moment, Bitcoin is trading slightly below $100,000. While it’s seen a small pullback from its recent all-time high above $104,000, the overall market sentiment remains positive. Trading volume is up significantly, and Bitcoin’s market cap is nearing $2 trillion.
Another analyst, Jelle, points out that Bitcoin’s current price action resembles its behavior during its 2020 breakout. This similarity suggests a potential for another big move upwards.
The Bottom Line
While no one can predict the future with certainty, this analyst’s track record and technical analysis suggest a potential for Bitcoin to reach $130,000. However, remember that the crypto market is highly volatile, so it’s crucial to manage your risk appropriately.
