Analyst Says Bitcoin Primed To Crash Below $50,000 if Major Level Holds, Updates Outlook on Sui and Helium
A closely followed crypto analyst said that Bitcoin (BTC) could dip below the $50,000 mark if one major support level fails to hold. In a new strategy session, pseudonymous crypto trader Altcoin Sherpa tells his 219,900 followers on the social media platform X that the crypto king’s next test could either send it flying past $70,000 or crashing down below $50,000. “I think that it’s quite simple: If BTC breaks current level, we go to $70,000. If BTC doesn’t break current level, we go to $40,000s (w/ bounces in between).” Source: Altcoin Sherpa/X Sherpa goes on to say that if BTC’s latest price action was printing a lower high, which the trader says may not be the case, then that means BTC will likely head into the low $40,000s. “I tremble if this was a lower high just printed for BTC. Don’t quite think it is but if so, price is headed to the low $40,000s. Let’s see.” Source: Altcoin Sherpa/X Bitcoin ...