A widely followed crypto strategist says Bitcoin (BTC) looks vulnerable to a sell-off event after losing a key price level.
Pseudonymous analyst Credible Crypto tells his 340,700 Twitter followers that he thinks Bitcoin is in a position to see one more leg down as it continues to trade below resistance at $27,000.
According to the trader, Bitcoin’s recent weakness could lead to a liquidation event that sees BTC trading below $25,000.
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“A little more neutral now in terms of direction on BTC now – the RED level holds the key, in my opinion.
Reclaim it, bottom may be in.
Fail to reclaim, and we likely go for a flush of our lows into the GREEN line at $25,000 with some wicks lower depending on momentum/liquidations.
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