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Renowned cryptocurrency investor and trader Pentoshi, who rose to fame by accurately predicting the end of Bitcoin&#8216;s (BTC) bull market in 2021, warns that selling pressure on the largest cryptocurrency could increase. He also signals a word of caution about <a href="https://en.coin-turk.com/rapid-increase-in-open-interest-for-binances-bnb-amid-price-drop-crypto-analyst-warns-of-chain-liquidation-risk/" target="_blank" rel="noopener" data-wpel-link="internal">Binance</a>&#8216;s BNB, a leading altcoin. 
<h2 style="text-align: justify;" id="pentoshi-expects-bitcoin-to-retreat-to-20-000">Pentoshi Expects Bitcoin to Retreat to $20,000</h2>
The anonymous cryptocurrency analyst Pentoshi asserts that Bitcoin appears dangerously close to breaking its crucial support around $25,000. According to Pentoshi, any downturn in the U.S. exchanges could trigger a new fall for BTC: 
<blockquote>
The issue is, with BTC, ETH and the overall crypto market showing weakness while S&amp;P 500 and Nasdaq are likely near or at local tops, I feel that Bitcoin has a strong potential to break 90-day ranges. I have marked the two most intriguing levels in a possible upcoming breakdown.
</blockquote>
<img decoding="async" loading="lazy" class="aligncenter wp-image-84031 size-full" src="https://en.coin-turk.com/wp-content/uploads/2023/06/btc-bnb.png" alt="" width="1370" height="872" srcset="https://en.coin-turk.com/wp-content/uploads/2023/06/btc-bnb.png 1370w, https://en.coin-turk.com/wp-content/uploads/2023/06/btc-bnb-267x170.png 267w, https://en.coin-turk.com/wp-content/uploads/2023/06/btc-bnb-768x489.png 768w, https://en.coin-turk.com/wp-content/uploads/2023/06/btc-bnb-1200x764.png 1200w" sizes="(max-width: 1370px) 100vw, 1370px" />
Examining Pentoshi&#8217;s graph, a move below $25,000 would initially result in BTC dropping to around $22,600. The last line of support appears to be at $20,000. 
<h2 style="text-align: justify;" id="pentoshi-foresees-a-dip-below-200-in-binance-8217-s-bnb">Pentoshi Foresees a Dip Below $200 in Binance&#8217;s BNB</h2>
The cryptocurrency analyst also closely tracks the price movements of Binance Coin (BNB), the local asset of the world&#8217;s largest cryptocurrency exchange. According to Pentoshi, the popular <a href="https://en.coin-turk.com/" target="_blank" rel="noopener" data-wpel-link="internal">altcoin</a> has a high probability of dropping below the $200 support in the upcoming months: 
<blockquote>
We&#8217;ll likely learn soon (in the third quarter of the year) what&#8217;s behind this sharp decline, and it&#8217;s probably going to be ugly.
</blockquote>
<img decoding="async" loading="lazy" class="aligncenter wp-image-84030 size-full" src="https://en.coin-turk.com/wp-content/uploads/2023/06/btc-bnb-2.png" alt="" width="1362" height="868" srcset="https://en.coin-turk.com/wp-content/uploads/2023/06/btc-bnb-2.png 1362w, https://en.coin-turk.com/wp-content/uploads/2023/06/btc-bnb-2-267x170.png 267w, https://en.coin-turk.com/wp-content/uploads/2023/06/btc-bnb-2-768x489.png 768w, https://en.coin-turk.com/wp-content/uploads/2023/06/btc-bnb-2-1200x765.png 1200w" sizes="(max-width: 1362px) 100vw, 1362px" />
Apart from Bitcoin and BNB, the cryptocurrency analyst also analyzes the overall cryptocurrency market. Despite losing a significant portion of their value over the past year, he suggests altcoins could continue to fall. &#8220;Just because something has lost 90% of its value doesn&#8217;t mean it&#8217;s a good buy. Context is incredibly important. Something can repeatedly fall by 90%,&#8221; he said. 
The post <a rel="nofollow" href="https://en.coin-turk.com/cryptocurrency-analyst-pentoshi-forewarns-of-market-downturn-and-bnbs-future/" data-wpel-link="internal">Cryptocurrency Analyst Pentoshi Forewarns of Market Downturn and BNB&#8217;s Future </a> appeared first on <a rel="nofollow" href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.

Cryptocurrency Analyst Pentoshi Forewarns of Market Downturn and BNB’s Future

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