Closely followed crypto analyst Justin Bennett says that both the stock and digital asset markets, including Bitcoin, are on the verge of another sell-off event.
Bennett tells his 101,000 Twitter followers that he has his eye on the total market cap of all crypto assets (TOTAL), which he says looks ready to break through its diagonal support.
“Everything is either breaking support or looks ready to.
TOTAL with a small fakeout above $940 billion. Now weighing on channel support.
I doubt this holds much longer.”
The analyst says that while the S&P 500 had a strong finish on Friday, he warns that the resumption of the downtrend is in sight. He shares a chart to illustrate how both the stock market and Bitcoin bounced in late May to early June only to erase their gains in a matter of days.
“Nice move from the S&P 500 today, but crypto is asleep.
Things got ugly the last time this happened.
Будите опрезни тамо.
S&P 500 in blue, BTC in orange.”
While Bennett is expecting another leg down to new lows for crypto in general, there are some in the space who believe the bottom is very close for Bitcoin.
Pseudonymous trader Loma tells his 273,000 Twitter followers that he’s expecting Bitcoin to enter an accumulation phase before reversing upward quicker than most expect.
“Assuming price has bottomed (local bottom but I don’t know about macro):
· We probably get an accumulation period, that’ll be somewhat faster than usual
· I’m more or less focused on grabbing swing positions early on into a trend and praying to Satoshi that I don’t sell too early.”
У време писања, BTC тргује се за 21,206 долара.
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Сурф Даили Ходл Мик
Изјава о одрицању одговорности: Мишљења изнета у Даили Ходлу нису савети за улагање. Улагачи би требали обавити своју дужну опрему прије него што уложе у високе ризичне инвестиције у битцоин, крипто валуту или дигиталну имовину. Имајте на уму да су ваши трансфери и трговине на сопствени ризик, а за све губитке који могу настати одговоран сте. Даили Ходл не препоручује куповину или продају било које крипто валуте или дигиталне имовине, нити Даили Даили Ходл није саветник за инвестирање. Имајте на уму да Даили Ходл учествује у аффилиате маркетингу.
Истакнута слика: Схуттерстоцк/Алберто Андреи Росу/Наталиа Сииатовскаиа
Source: https://dailyhodl.com/2022/06/27/top-analyst-issues-warning-says-stocks-bitcoin-and-crypto-markets-on-verge-of-collapse/