Bitcoin

when

Captain

The post <a href="https://coinpedia.org/price-analysis/be-careful-says-an-analyst-where-are-the-crypto-markets-heading-too/" rel="noopener noreferrer nofollow">Be Careful—Says an Analyst: Where are the Crypto Markets Heading Too?</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a>
The market participants appear to be extremely hopeful of the next price actions, as the sentiments have become extremely ‘greedy’. No sooner than the <a href="https://coinpedia.org/price-prediction/bitcoin-price-prediction/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin price</a> marked yearly highs above $68,600, the bears quickly booked some profits. As a result, the price slipped below $67,000, losing over $1400 in just a few hours. With this, there are speculations of an interim pullback but the timing of its occurrence continues to remain unclear.&nbsp;
In the long term, the Bitcoin price is trading within a massive ascending parallel channel and is yet to test the upper resistance of the channel. Therefore, the price is expected to maintain an ascending trend for the next few months that could propel the levels above $100K. However, <a href="https://coinpedia.org/price-analysis/whats-next-for-the-bitcoin-price-rally-will-it-breakout-through-the-ath-or-undergo-a-minor-pullback/" target="_blank" rel="noopener noreferrer nofollow">as per our previous composition</a>, the BTC price continues to remain in a decisive phase.&nbsp;
What’s next? Will the Bitcoin price continue to soar or encounter a strong bearish action? A popular analyst, <a href="https://twitter.com/CryptoMichNL/status/1764951486486737201" target="_blank" rel="noopener noreferrer nofollow">Michael van de Poppe</a>, says that the price may continue to surge and mark a new ATH in the next few days. However, this could attract bearish action and drag the levels back to the mid-$50,000 range.&nbsp;
<figure class="wp-block-image"><img decoding="async" src="https://lh7-us.googleusercontent.com/m_nay2fYhpAflPHkBpMAQcf_cmYsEdyI1IHGoaxS2Vx7TeWVrv_I9FDB6oxgW64kJQvA2XozvZbxdhMXriWaGRN9AVMylcUH8PRX3h27ge16adRmyXjDXoXebUGXfhR1g610ctAMmU0lZ1k75FGGBzQ" alt="">
</figure>
While the analyst expects a massive pullback for the Bitcoin price after it marks new highs, the altcoins are expected to thrive at the same time.&nbsp;
<blockquote class="wp-block-quote">
 “Massive run and massive upwards move on Bitcoin,
 It didn’t hit a new all-time high, but it will likely come in the next few days.
 I think we’ll de seeing mid $50K regions in the coming months, and I think we’ll see altcoins continue to rally,
 Some have woken up,”
</blockquote>
Therefore, now that market sentiments have become extremely greedy with the fear &amp; greed index hitting 90 for the first time since the 2021 bull run, a popular analyst known as <a href="https://twitter.com/CryptoFaibik/status/1764864549717414155" target="_blank" rel="noopener noreferrer nofollow">Captain Faibik</a> has cautioned his 82,000 followers to be careful as he expects a ‘shakeout’ soon. Moreover, the analyst suggests booking some gains and continuing to hold USDT. If minor dumps occur, the traders can buy at dips as suggested by the most popular investor, Warren Buffet,&nbsp;
<blockquote class="wp-block-quote">
 “Be fearful when others are Greedy and Greedy when others are fearful,”&nbsp;
</blockquote>

Be Careful—Says an Analyst: Where are the Crypto Markets Heading Too?

CoinPedia News

Other articles published on Mar 5, 2024

Altcoin Season 2024: Last Chance to Stack These Six Low-Cap Promising Altcoins

Wingalaxy: A New Era of Winner-Takes-All Racing Games on the Cronos Blockchain (5 Mar)

Bitcoin traders dismiss ‘triple top’ as BTC price stops $150 from $69K

Analyst Says This New Cryptocurrency Will ‘Launch Millionaires’

Coinbase Fights SEC Use of Default Judgment in Ongoing Lawsuit

JTC Network’s Revolutionary Legal -Recourse Bitcoin Fork Listed on WhiteBIT, Bridging Digital Ass...

Join our free newsletter for daily crypto updates!