Bitcoin Risks Final Leg Down to $54K in the Next 5 Months, Analyst Warns
Cointelegraph
Analyst Joao Wedson warns Bitcoin could face a $15,000 shakeout toward $54,000 due to extreme bearish sentiment.Summary
Joao Wedson, CEO of Alphractal, warns that Bitcoin may experience one final significant decline toward the $54,000 level over the next few months. This prediction is based on the 720-day Tactical Bull-Bear Sentiment Index (TBBI) dropping below 20, a level historically associated with "late-stage fear" and subsequent price drops, such as those seen in 2022 and 2018.
The projected $54,000 target aligns with Bitcoin's realized price and other technical indicators. While some analysts, including Mike McGlone from Bloomberg Intelligence, have even suggested much lower targets, MicroStrategy's aggressive buying behavior may provide enough support to limit potential downside and potentially trigger a reversal toward $100,000.
(Source：Cointelegraph)