Veteran analyst warns on the series Willie Woo that Bitcoin (BTC) may have a market correction if no major event occurs in the short term.
Wu Recount His 1.2 million followers on the X social media platform that Bitcoin needs to print new levels ever or leading Crypto assets.
“If we do not get more highlands, BTC will be prepared for a declining difference on long -term charts at a time when capital flows were weaker than usual with very hot speculation. If this happens, we will need to wear another wave of profit.”
However, the analyst He says The Bitcoin risk signal, which measures whether BTC is at the risk of the main withdrawal in the price, is filled up, and may put the main encryption assets up to print new levels ever this week.
“However, the most bullish image with a decrease in the risk signal. If the purchase follows this week, $ 114,000 is the next queue to filter short pants. But at the present time, there is an opening for a declining axis.”
Wu too points Through the disturbing trend, the Bitcoin (SOPR) profit rate indicates, which tracks whether metal currencies are sold in profit or loss, indicating that investors are sitting on great profits, indicating that they may tend to sell in any sign of contraction.
“Speculation on BTC at a time when many investor profits are to take (SOPR). It reminds me that” he is afraid when others are greedy. “A lot is due to the amount of purchase that occurs this week when the American markets open after a long weekend.”
Finally, Wu He says Investors who buy Bitcoin have slowed for the first time since its massive outbreak of its highest levels ever, indicating a possibility of a landmark.
“Capital flows to the network have been very flat over the past three days. This is an extraordinary calm in purchase in our race from $ 75,000 to $ 112,000.”
Bitcoin is trading for $ 107,948 at the time of writing, a decrease of 1.1 % in the past 24 hours.
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Disclosure: The views expressed in Daily Hodl are not an investment advice. Investors must do due care before making any high -risk investments in bitcoin, cryptocurrency, or digital assets. Please note that your transfers and trading on your own responsibility, and any losses you may bear are your responsibility. Daily Hodl does not recommend buying or selling any encrypted currencies or digital assets, and Hodl Daily Andersor is an investment. Please note that the daily Hodl participates in dependent marketing.
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