A Crypto Analyst Predicts Bitcoin Could Dip Below $80,000 Before Rising Above $90,000
A well-known cryptocurrency analyst, known as the Flow Horse, has shared his insights on the current state of Bitcoin (BTC) in the market. Despite the recent bounce from a low of around $74,000, the analyst believes that Bitcoin is not yet in the clear and may revisit price levels below $80,000 in the near future.
In a recent post on social media platform X, the Flow Horse expressed his thoughts on the potential price movements of Bitcoin. He mentioned that while a bounce could take BTC above $90,000, he still expects a downward trend to bring the price back to the $70,000 range.
The analyst stated, “Think BTC definitely visit $70,000s again. Think a good trade that I would almost certainly sell is if price can remain bid at $88,000. That probably takes us to mid-$90,000s. There is a running diagonal, and a couple of moving averages that everyone is looking at. Momentum opportunities exist on the other side.”
Additionally, the Flow Horse touched upon the potential impact of President Trump’s actions on the market. He warned that if Trump were to remove Federal Reserve Chair Jerome Powell, it could have catastrophic effects on risk assets like Bitcoin and other cryptocurrencies.
In another post, the analyst mentioned that he currently has zero exposure to Bitcoin or equities and believes that the ongoing rallies may be short-lived. He emphasized, “Thinking the trend is your friend and rallies are for selling still.”
As of the time of writing, Bitcoin is trading at $84,490, and the market remains uncertain about its future movements.
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