On Thursday, cryptocurrencies received much attention. 4,444 Bitcoin, Ethereum and Litecoin fell as investors turned to riskier assets and safe-haven assets such as bonds. Piper Sandler’s Chief Market Technician
Craig Johnson is paying close attention to the next possible Bitcoin outbreak chart.
“We broke up in January. We reached this peak a few months ago. I would actually go back and put the retracement level above Bitcoin. When you see this, you can see that about 33,000 to 34,000 is a very important retracement level,” Johnson told CNBC on Thursday “Trading country” refers to the technical analysis of Fibonacci retracements marking key support and resistance levels.
Bitcoin bounced between $31,500 and $34,800 for about two weeks. Johnson said, according to his The story is that Bitcoin is unlikely to fall further. However, you will see a longer period of integration.
“You have seen that the accuracy of Bitcoin is 45%. When you go back to the first two cycles, these encryption cycles lasted about 1,000 days, “he said.” You should be ready to adjust the hatch and wait for it to consolidate for a while before starting the next big rally.
Read more about cryptocurrencies on CNBC Pro
Investing in Ethereum What you need to know about it and why it is more than just another Bitcoin
The “mining difficulty” of Bitcoin is about to disappear. This pair of cryptocurrencies What does
mean? Most investors believe that Bitcoin will be less than $ 30,000 by the end of this year. A CNBC poll shows that
Blue Line Capital chairman Bill Baruch has Bitcoin and is waiting for the next opportunity to increase his holdings.
“Give me for $ 25,000 in Bitcoin, I will buy more,” said Baruch in the same section.
“I have been in space since 2017. Sometimes I was in it, sometimes I wasn’t, I came out completely earlier this year,” he said.
Baruch stated that he bought back Bitcoin when it reached $32,500. He also owns Ethereum and Solana cryptocurrency. The last transaction price of
Bitcoin was $32,870. It must fall 24% to reach Baruch’s buying target level.

 

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