In the ever-fluctuating world of cryptocurrencies, crypto analyst Doctor Profit has shared his insights on the upcoming trajectory for Bitcoin amid the digital asset’s price decline.
Here’s What’s Next For Bitcoin
The cryptocurrency analyst took to the social media platform X (formerly Twitter) to share his projections with the crypto community. Doctor Profit offered his insights after correctly foreseeing the recent drop in BTC, which started at the $48,000 price mark.
The analyst correctly identified the $48,000 level as a major resistance level and advised the community to short at this level. His accuracy in predicting has brought him a great deal of reputation and trust in the cryptocurrency space.
His recent predictions, which are detailed in the most recent Sunday report, cover technical, psychological, and market analysis. It also offers a sophisticated perspective on both the current status of Bitcoin and its possible future movements.
Doctor Profit pointed out the Exponential Moving Average (EMA50) as a crucial aspect in determining Bitcoin’s next moves. He noted the importance of the EMA50, highlighting that the current market wick dropped below it but closed above it, suggesting the market’s resiliency.
The post read:
One of these facts is the power of EMA50 that should not be ignored. I mentioned its importance two weeks ago, and you can check how the latest wick got fully eaten below EMA50 and closed its candle above.
Furthermore, he revealed the next price level for BTC, if any breakout occurs from the EMA50. “Very important to keep your eyes on EM50 any breakout of EMA will send us to our target of 39.500 regions,” he stated.
Emphasizing the current market dynamics, Doctor Profit characterized them as being manipulated by market makers. According to the analyst, the dump is part of a broader plan to wear down investors and instil dread in them.
However, as a result of the dump, he noted that prices will certainly go much higher in the coming months. He further urged investors to hold fast and avoid falling victim to market traps, as he believes the “mother of all bull markets” is imminent.
Phase Two Of The Analyst’s Big Prediction
Doctor Profit highlighted that we are in phase two of his predictions which kickstarts the “big manipulation.” Additionally, the phase will lead to pumps and dumps in order to make investors “lose hope in Bitcoin.”
Despite the current bearish period, Doctor Profit’s long-term forecast for Bitcoin is still bullish. He further emphasized that the “continuous correction will not put an end to the ETF pump.”
So far, the expert believes that the “real bull market has not yet begun.” Meanwhile, he expects the price of BTC to reach a new peak by the “end of the year.”
Related Reading: Bitcoin Price Stuck Below $48K Despite ETF Approval, Is This Bearish?
The price of Bitcoin is surprisingly down despite the approval of multiple BTC Spot Exchange-Traded Funds (ETFs) by the SEC. BTC is currently trading at $42,624, indicating a drop of 2.90% in the past week.
Featured image from iStock, chart from Tradingview.com
Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.
In the ever-fluctuating world of cryptocurrencies, crypto analyst Doctor Profit has shared his insights on the upcoming trajectory for Bitcoin amid the digital asset’s price decline.
Here’s What’s Next For Bitcoin
The cryptocurrency analyst took to the social media platform X (formerly Twitter) to share his projections with the crypto community. Doctor Profit offered his insights after correctly foreseeing the recent drop in BTC, which started at the $48,000 price mark.
The analyst correctly identified the $48,000 level as a major resistance level and advised the community to short at this level. His accuracy in predicting has brought him a great deal of reputation and trust in the cryptocurrency space.
His recent predictions, which are detailed in the most recent Sunday report, cover technical, psychological, and market analysis. It also offers a sophisticated perspective on both the current status of Bitcoin and its possible future movements.
Doctor Profit pointed out the Exponential Moving Average (EMA50) as a crucial aspect in determining Bitcoin’s next moves. He noted the importance of the EMA50, highlighting that the current market wick dropped below it but closed above it, suggesting the market’s resiliency.
The post read:
One of these facts is the power of EMA50 that should not be ignored. I mentioned its importance two weeks ago, and you can check how the latest wick got fully eaten below EMA50 and closed its candle above.
Furthermore, he revealed the next price level for BTC, if any breakout occurs from the EMA50. “Very important to keep your eyes on EM50 any breakout of EMA will send us to our target of 39.500 regions,” he stated.
Emphasizing the current market dynamics, Doctor Profit characterized them as being manipulated by market makers. According to the analyst, the dump is part of a broader plan to wear down investors and instil dread in them.
However, as a result of the dump, he noted that prices will certainly go much higher in the coming months. He further urged investors to hold fast and avoid falling victim to market traps, as he believes the “mother of all bull markets” is imminent.
Phase Two Of The Analyst’s Big Prediction
Doctor Profit highlighted that we are in phase two of his predictions which kickstarts the “big manipulation.” Additionally, the phase will lead to pumps and dumps in order to make investors “lose hope in Bitcoin.”
Despite the current bearish period, Doctor Profit’s long-term forecast for Bitcoin is still bullish. He further emphasized that the “continuous correction will not put an end to the ETF pump.”
So far, the expert believes that the “real bull market has not yet begun.” Meanwhile, he expects the price of BTC to reach a new peak by the “end of the year.”
Related Reading: Bitcoin Price Stuck Below $48K Despite ETF Approval, Is This Bearish?
The price of Bitcoin is surprisingly down despite the approval of multiple BTC Spot Exchange-Traded Funds (ETFs) by the SEC. BTC is currently trading at $42,624, indicating a drop of 2.90% in the past week.
Featured image from iStock, chart from Tradingview.com
Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.
can i order generic clomid without insurance clomid at clicks how to buy clomid without prescription clomid cost how to buy cheap clomid without prescription generic clomid without prescription where to get clomiphene pill
This is a keynote which is in to my fundamentals… Numberless thanks! Exactly where can I lay one’s hands on the acquaintance details in the course of questions?
More peace pieces like this would insinuate the web better.
order rybelsus 14 mg online cheap – purchase periactin sale buy periactin generic
order motilium – cyclobenzaprine generic buy flexeril 15mg
buy augmentin cheap – https://atbioinfo.com/ purchase ampicillin for sale
esomeprazole 20mg pill – https://anexamate.com/ buy nexium 40mg without prescription
warfarin 5mg without prescription – https://coumamide.com/ buy losartan pill
order meloxicam online – https://moboxsin.com/ mobic usa
prednisone order – aprep lson buy deltasone 20mg online cheap
amoxicillin online – buy amoxicillin for sale amoxil order
fluconazole 100mg sale – https://gpdifluca.com/# order fluconazole 100mg generic
buy cenforce generic – https://cenforcers.com/# cenforce 100mg for sale
tadalafil cialis – cialis tadalafil 20mg price best place to buy liquid tadalafil
cialis las vegas – cialis information when does the cialis patent expire
zantac usa – aranitidine buy zantac 150mg pills
red pill like viagra – buy generic 100mg viagra online sildenafil citrate 100mg
This website positively has all of the low-down and facts I needed there this participant and didn’t comprehend who to ask. cialis 5 mg es suficiente
With thanks. Loads of conception! https://buyfastonl.com/
More posts like this would add up to the online time more useful. https://ursxdol.com/get-metformin-pills/
I’ll certainly return to be familiar with more. https://prohnrg.com/product/metoprolol-25-mg-tablets/
More articles like this would remedy the blogosphere richer. https://aranitidine.com/fr/acheter-cenforce/
Good blog you be undergoing here.. It’s severely to espy elevated calibre writing like yours these days. I truly recognize individuals like you! Take care!! https://ondactone.com/spironolactone/
More content pieces like this would urge the web better.
https://doxycyclinege.com/pro/losartan/
With thanks. Loads of conception! http://iawbs.com/home.php?mod=space&uid=914825
order forxiga 10mg pills – this order forxiga online
purchase orlistat pills – this xenical pill