Bitcoins Final Flush: Top Traders Outlook and Warning

Bitcoins Final Flush: Top Traders Outlook and Warning

Crypto strategist warns of potential sell-off event for Bitcoin as it struggles to reclaim resistance at $27,000 and could see a final flush under $25,000, according to pseudonymous analyst Credible Crypto.

A broadly followed cryptocurrency strategist reveals Bitcoin (BTC) looks vulnerable to a sell-off event after losing a key price level.

Pseudonymous analyst Credible Cryptocurrency tells his 340,700 Twitter followers that he thinks Bitcoin (BTC) is in a position to see one more leg down as it persists to trade below resistance at $27,000.

Reports by the trader, BTC’s recent weakness could lead to a liquidation event that sees Bitcoin trading below $25,000.

“A little more neutral now in terms of direction on Bitcoin now – the RED level holds the key, in my opinion.

Reclaim it, bottom could be in.

Fail to reclaim, and we likely go for a flush of our bottom Line into the GREEN line at $25,000 with some wicks lower depending on momentum/liquidations. This would be the final flush under $25,000 I have been mentioning in previous posts and vids that we haven’t been able to rule out yet.

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Remember – a final flush is HEALTHY as long as we stay over $20,000-ish.”

At the moment of writing, Bitcoin (BTC) is trading for $26,883, still below the trader’s key price area.

Credible Cryptocurrency holds a contrarian view that Bitcoin (BTC) will likely witness a substantial surge this year on its way to a fresh record-breaking peak. In April, the trader predicted that Bitcoin (BTC) will break the six-figure mark before the end of 2023.

Generated Image: Midjourney


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