- Reputed analyst reveals market makers’ plan for exit pump.
- Bitcoin completes two months of distribution phase, despite the new ATH.
- A major correction is still expected following September rate cuts.
Popular silver-tongued crypto analyst talks about the state of the current crypto market. In detail, the reputed analyst reveals market makers’ plan for exit pump as Bitcoin completes two months of a distribution phase. The analyst often shares a weekly report for crypto traders, but this week, he simply reminds the community of his earlier correction dump prediction and explains why his views have not changed.
Reputed Analyst Reveals Market Makers’ Plan
The reputed Doctor Profit is known for his many accurate silver-tongued predictions. The latest of his predictions includes a major correction phase for the crypto market, starting in the latter half od September. In detail, based on historical data, Doctor Profit predicts that since September has always been a bearish month for the crypto market, this September will likely close in a bearish red as well.
He then went on to provide several supporting evidence to his prediction and believes this correctional phase will be triggered by the Fed announcing the highly anticipated rate cuts in the second half of September. He believes this announcement to have already been priced in and expects a major correction to pull the price of BTC to below $100,000 and close a CME Gap in the $90,000 price range.
Presently, after weeks of BTC trading in the $110,000 price range and ETH trading in the $4,300 price range, both prices began to move upwards, leading Doctor Profit to remind the crypto community that this is just an exit plan made by market makers, and is not really a true market recovery phase. Instead, he advises caution and sticks by his expectation fro a major correction state.
As we can see from the post above, the analyst states that this is no altseason but rather a short-lived exit pump. While retail will FOMO, market makers will exit at high prices and wait for the real correction phase so they can buy back in at lower prices just before the market can start to pump once again. He concludes by stating that a true altseason peak rally will arrive only in Q4.
Bitcoin Completes Two Months of Distribution Phase
The same analyst shares in another post what he observes for BTC. As we can see from the post above, he talks about how BTC has now been in a distribution phase for over two months, despite setting a new ATH in August. He says that when Bitcoin is not in a buy accumulation state, it is in a sell distribution state. This heavy unloading happens in the $115,000 to $125,000 price range, the local top. He concludes by saying that whales and freshly unlocked addresses are clearly dumping into pumps.
