- Reputed crypto analyst shares in-depth crypto market analyses.
- He goes on to explore several technical and psychological indicators.
- BTC could see two possible outcomes for the coming days ahead.
As the crypto market enters mid-month of the final month of Q3, one reputed crypto analyst shares in-depth crypto market technical and psychological analyses. According to his point of view and observations, the crypto market could see two possible outcomes: one where the bottom is already in and a reversal occurs, and one where the market dips further before recovering back to bullish moves and sets an ATH at the $140,000 price range.
Reputed Crypto Analyst Shares In-Depth Crypto Market Analyses
One reputed crypto analyst shares an in- depth technical and psychological analyses where he reveals everything one need to know about what to expect next for crypto. He begins by talking about a golden cross on the daily timeframe of the MACD which was printed at the same time that the short-term MVRV bottomed. This happened few weeks ago near the $107,000, in the exact same place where he had opened longs.
He then highlights how such an event has only happened three times this cycle, all at local bottom levels. To specify, the last time this happened was when BTC was at $76,000 during the massive tariff fear, and then again a few weeks ago at $107,000. The same indicators also flashed previously at $49,000 on the same day of the yen carry trade unwind crash, and at $16,000 – $18,000 right after the FTX collapse.
As the post goes on to explain, the analyst states that it is important to note and understand that this last MACD signal is even more rare, since it is being printed on the 1D timeframe in negative values, which makes it even stronger. It always shows up during weak momentum and tends to result in 30-40% upside moves. This alone says that the next move will place BTC price in the $140,000 to $150,000 price range at a minimum.
\When Will BTC Hit $140,000 ATH?
So, now the analyst ponders, will BTC reach that price level? He then concludes by stating that there are currently two options for Bitcoin to follow. The first is a move where the bottom is already in for BTC, and a reversal takes place in the present time. The second is where BTC will get rejected near the $120,000 price range, leading BTC to go down to sweep the monthly lows.
Lastly, the analyst says that since the RSI is printing a bullish divergence, only then will BTC start pumping towards the $140,000 price range. This would be a clean shakeout before the final leg up. Finally, he concludes saying that which scenario plays out will depend entirely on the FOMC decision and Jerome Powell’s speech this Wednesday. The key will be what Jerome Powell hints at for the November FOMC.
