Analyst believes Bitcoin is likely to face price correction due to signal he saw on chart
Crypto analyst and trader Ali Martinez, who often shares trading signals and conclusions based on them on his X platform account, has now published a Bitcoin chart, saying that he expects a correction soon.
Ali shared that it was a sell signal on the Bitcoin daily graph. He now believes that a potential correction may take the BTC price down to $29,500-$28,630 from the current $30,668 level.
On Sunday, Ali also shared an X post, speaking about a likely correction for Bitcoin. He spotted a potential head-and-shoulders formation emerging in the BTC daily chart. He then stated that this chart predicted a sell signal to appear on Monday, which has now showed up indeed, according to the aforementioned tweet.
Ali stated that a correction is likely to hit the global flagship crypto unless it succeeds in putting up a daily candle close above the $31,560 level.
So far, over the span of the last 24 hours, the price of digital gold went up by 3.10%, adding roughly $1,000 to its value. Bitcoin is changing hands at $30,627 as of this writing.
Bitcoin to $750,000: Anthony Scaramucci
On Saturday, founder of SkyBridge Capital Anthony Scaramucci took to the X platform to comment on his recent interview, where he mentioned Bitcoin. It was claimed that he predicted BTC to skyrocket as high as a whopping $31 million per coin once a Bitcoin spot ETF is approved and goes live.
However, Scaramucci stated that this immense figure was a typo. He believes that during the next bull cycle, the flagship digital currency is likely to reach $150,000-$200,000. By the end of this decade, he expects Bitcoin to reach the $750,000 level.
Scaramucci strongly believes in the power of the impact that an approved Bitcoin ETF may have on the price, especially if it is iShares, a Bitcoin spot ETF by BlackRock. Recently, he tweeted “three factors” that are bullish for Bitcoin, and they were “Larry Fink. Larry Fink. Larry Fink.” Fink is the CEO of BlackRock, the world’s largest fund manager with trillions of USD worth of assets in management.
Author of “Rich Dad Poor Dad,” financial guru Robert Kiyosaki, has recently urged his followers to opt for Bitcoin. He tweeted that he believes the next stop for BTC to be at the $135,000 level.
Kiyosaki tweeted that he also expects gold to surge to $2,000 and then take off toward $3,700. Silver, which is trading at $23 at the moment, should soar three times to hit $68, in Kiyosaki’s view.