Top Trader Warns Bitcoin (BTC) Final Flush May Be in the Cards – Here’s His Outlook

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.

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According to the trader, Bitcoin’s recent weakness could lead to a liquidation event that sees BTC trading below $25,000.

“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. This would be the final flush under $25,000 I have been mentioning in previous posts and vids that we haven’t been able to rule out yet.

Remember – a final flush is HEALTHY as long as we stay above $20,000-ish.” 

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Source: Credible Crypto/Twitter

At time of writing, Bitcoin is trading for $26,883, still below the trader’s key price area.

Credible Crypto holds a contrarian view that Bitcoin will likely witness a massive surge this year on its way to a fresh all-time high. In April, the trader predicted that Bitcoin will break the six-figure mark before the end of 2023.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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