Better

Bitcoin

Show

Coin

<p>In a detailed analysis, the crypto analyst <a href="https://twitter.com/blockchainedbb/status/1779517136014127289" target="_blank" rel="noopener noreferrer nofollow">Blockchainedbb</a> has cautioned investors and traders against buying Bitcoin (BTC) at the current price levels. The analyst has provided a comprehensive breakdown of the market conditions, highlighting the potential risks and suggesting an optimal entry point for BTC accumulation.</p>
<p><strong>The Current Market Scenario: </strong><br>According to Blockchainedbb, while Bitcoin has not experienced a significant decline, alternative cryptocurrencies (altcoins) have already suffered losses of up to 60% from their recent peaks. This has led to widespread portfolio bleeding, leaving investors grappling with the decision to either average down or cut their losses.</p>
<p><strong>The Significance of the $55,000 Support Level: </strong><br>The analyst emphasizes that the $55,000 level is not a strong support for Bitcoin. The grey boxes on the chart represent “fair value gaps,” which do not necessarily need to be filled. If these gaps are disrespected, Bitcoin could potentially drop further.</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="567" height="1024" src="https://captainaltcoin.com/wp-content/uploads/2024/04/image-729-567x1024.png" alt="" class="wp-image-474919" srcset="https://captainaltcoin.com/wp-content/uploads/2024/04/image-729-567x1024.png 567w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-729-166x300.png 166w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-729-768x1386.png 768w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-729-851x1536.png 851w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-729-1134x2048.png 1134w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-729-83x150.png 83w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-729-100x181.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-729-194x350.png 194w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-729-788x1422.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-729.png 664w" sizes="(max-width: 567px) 100vw, 567px">
</figure>
<p><strong>When to Start Averaging: </strong><br>Blockchainedbb suggests that for a bullish market structure shift, Bitcoin needs to rise above $68,000, at which point investors could consider entering with a target of $75,000. Any entry before that level would be akin to “catching a falling knife,” as the market direction could go either way.</p>
<p>The analyst warns that if the monthly fair value gap on the chart is disrespected, Bitcoin could drop to $42,000 before reaching $75,000. In such a scenario, holding altcoins becomes a significant risk, and some altcoins could potentially drop another 40-60%. Even if Bitcoin eventually reaches $75,000, investors may barely break even.</p>
<p><strong>Potential Risks and Catalysts: </strong><br>Blockchainedbb highlights that unless there is a resolution to the ongoing geopolitical conflicts or the situation is brought under control, the chances of further downside remain high. Additionally, as crypto markets operate on weekends while other markets are closed, any negative reactions in gold, oil, or the S&amp;P 500 could drag Bitcoin lower.</p>
<div class="wp-block-rehub-colortitlebox rh-colortitlebox" style="text-align:left;border-radius:5px;box-shadow:0 10px 10px #00000007;background-color:#fafafa;color:">
 <div class="rh-colortitle-inbox" style="background-color:var(--rehub-main-color);color:#fbfbfb;border-radius:5px 5px 0 0"><i class="rhicon rhi-bolt-regular rh-colortitlebox-icon" style="color:"></i>
  <div class="rh-colortitle-inbox-label">
   Explosion in Meme Coin Market; How to find potential successors to $WIF, $PEPE, and $BONK? <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f92b.png" alt="🤫" class="wp-smiley" style="height: 1em; max-height: 1em;">
  </div>
 </div>
 <div class="rh-colortitlebox-text">
  <style scoped>.rh-toggler-open{height:auto !important}
.rh-toggler-open .rh-tgl-show, .rh-toggler-open .rh-tgl-grad{display:none !important}
.rh-toggler-open .rh-tgl-hide{display:block !important}
.rh-tgl-show, .rh-tgl-hide{cursor:pointer}
.rh-contenttoggler *{box-sizing: border-box !important}
.rh-toggler-wrapper{overflow: hidden;transition: all 0.5s ease; padding-bottom: 35px; margin-bottom:30px;box-sizing: content-box !important;position: relative;}
.rh-toggler-wrapper p:last-of-type {margin-bottom: 0;}</style>
  <div class="wp-block-rehub-contenttoggler rh-contenttoggler" data-height="100px">
   <div class="rh-toggler-wrapper" style="height:100px">
    <p>The key? Getting in early, especially during the <strong>ICO phase</strong>. Check out <a href="https://captainaltcoin.com/go/ll_inside/" target="_blank" rel="noopener noreferrer nofollow"><strong>NuggetRush</strong></a> today! This new memecoin combines play-to-earn gaming with authentic gold mining ventures. <a href="https://captainaltcoin.com/go/ll_inside/" target="_blank" rel="noopener noreferrer nofollow"><strong>Seize the opportunity</strong></a> with ongoing presale prices! Plus, prepare for $NUGX’s upcoming launch on major exchanges.</p> <span class="rh-tgl-trigger" style="text-align:center;position:absolute;z-index:2;bottom:0;left:0;width:100%;color:"><span class="rh-tgl-show" style="display:block">Show more +</span><span class="rh-tgl-hide" style="display:none">Show less –</span></span><span class="rh-tgl-grad" style="background-image:linear-gradient(to bottom,rgba(255,255,255,0) 0,#ffffff 100%);display:block;position:absolute;height:100px;bottom:0;left:0;z-index:1;width:100%"></span>
   </div>
  </div>
 </div>
</div>
<p>Despite the current challenges, the analyst does not foresee a full-blown bear market from this point on. As this is an election year, the analyst expects the government to take measures to boost the economy, such as quantitative easing or interest rate cuts, which could potentially lead to a market rebound starting in June.</p>
<p><strong>Optimal Entry Point: </strong><br>Blockchainedbb advises against averaging down until Bitcoin demonstrates a bullish market structure shift, which could be signaled by a daily close above $68,000. Investors should consider their financial situations and the potential wait time required to break even and generate gains if Bitcoin loses the $53,000 support level.</p>
<p>The analyst’s analysis provides a comprehensive overview of the current market conditions and potential risks associated with buying Bitcoin at current levels. By highlighting the optimal entry point and potential catalysts for a market rebound, Blockchainedbb aims to equip investors and traders with the necessary insights to make informed decisions regarding their Bitcoin and altcoin holdings.</p>
<p><em><strong>Hunting for a small cap coin that could explode 10x? We’ve unveiled a few last week alone.<br>Get all our future calls by joining our <a href="https://t.me/captainaltcoincom" target="_blank" rel="noopener noreferrer nofollow">FREE Telegram community.</a></strong></em></p>
<div class="bigofferblock margincenter mb30 pt20 pl20 pr20 " style="">
 <div class="col_wrap_two mb0">
  <div class="offerbox_big_wrap flowhidden">
   <div class="image position-relative text-center col_item mobileblockdisplay img-maxh-350 img-width-auto"><a class="re_track_btn" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="noopener noreferrer nofollow"> <img decoding="async" class="lazyload" data-skip-lazy="" data-src="https://captainaltcoin.com/wp-content/uploads/thumbs_dir/Copy-of-P2P-Review-17-qi3pqhl3pi3mlojv8nq0upz5rcb68rblc7kuvhcaou.png" width="500" alt="Check NuggetRush ($NUGX)" src="https://captainaltcoin.com/wp-content/themes/rehub-theme/images/default/blank.gif"> </a>
   </div>
   <div class="product-summary col_item mobileblockdisplay">
    <h3 class="product_title entry-title font150 lineheight25 mb30" id="a-class-re_track_btn-href-https-captainaltcoin-com-go-ll_bottom-target-_blank-rel-noopener-noreferrer-nofollow-span-check-nuggetrush-nugx-span-a"><a class="re_track_btn" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="noopener noreferrer nofollow"> <span>Check NuggetRush ($NUGX)</span> </a></h3>
    <div class="rev_disclaimer font70 greencolor lineheight15 mb20">
     Sponsored: Invest Responsibly, Do Your Own Research.
    </div>
    <div class="buttons_col mb25 rh_big_btn_inline">
     <div class="priced_block clearfix">
      <div><a class="re_track_btn btn_offer_block" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="noopener noreferrer nofollow"> Buy NUGX Today </a>
      </div>
     </div>
    </div>
    <div class="bigofferdesc"><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Being in its <strong>ICO stage</strong>, NuggetRush offers a prime opportunity for early investors to get in at potentially lower prices <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>A unique <strong>play-to-earn</strong> gaming platform in the memecoin market <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>The platform combines artisanal and <strong>gold mining</strong> with cryptocurrencies in an unusual gaming context, offering a distinctive and immersive experience <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Fosters a strong <strong>community </strong>by encouraging physical meetups among members <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i><strong>NFT</strong> Integration with Prominent Characters
    </div>
   </div>
  </div>
 </div>
</div>
<p>The post <a href="https://captainaltcoin.com/crypto-analyst-warns-against-buying-bitcoin-now-identifies-better-btc-entry-level/" rel="noopener noreferrer nofollow">Crypto Analyst Warns Against Buying Bitcoin Now, Identifies Better BTC Entry Level</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Crypto Analyst Warns Against Buying Bitcoin Now, Identifies Better BTC Entry Level

Table of Contents

CaptainAltcoin

Другие статьи, опубликованные 14 апр. 2024 г.

Can Bitcoin’s 370K new wallets save BTC’s price from falling below $65,000?

Nigeria Seeks Return of Fugitive Binance Official from Kenya

Top cryptocurrencies to watch this week: BTC, SOL, PEPE

Biden, Trump meme coins are on wildly different trajectories

Uniswap Implements 67% Fee Increase Amidst SEC Lawsuit

Legendary Game Designer Yoshiki Okamoto Unveiled New Game Title “Project Creta” on 8th of April, ...

Join our free newsletter for daily crypto updates!