Bitcoin (BTC) Faces Sell Signal, Correction Likely, Analyst Says, but Long-Term Bullish Trend Remains Intact
Crypto analyst and trader Ali Martinez has recently shared a Bitcoin chart, indicating a potential correction in the near future. Martinez identified a sell signal on the Bitcoin daily graph and predicts that the price may drop to $29,500-$28,630 from its current level of $30,668. This correction is supported by a head-and-shoulders formation that emerged in the BTC daily chart.
However, Martinez suggests that Bitcoin can avoid this correction if it manages to close above the $31,560 level. Over the past 24 hours, the price of Bitcoin has increased by 3.10%, adding approximately $1,000 to its value. It is currently trading at $30,627.
In other news, Anthony Scaramucci, founder of SkyBridge Capital, clarified his prediction about Bitcoin reaching $31 million per coin. He stated that it was a typo and instead expects Bitcoin to reach $150,000-$200,000 during the next bull cycle. By the end of the decade, Scaramucci believes Bitcoin could reach $750,000. He emphasizes the potential impact of an approved Bitcoin ETF, particularly if it is offered by BlackRock.
Financial guru Robert Kiyosaki also expressed his support for Bitcoin, predicting a price target of $135,000. Kiyosaki additionally expects gold to surge to $2,000 and then rise to $3,700, while he believes silver will triple in value to $68.
Yuri Molchan, a crypto journalist, wrote this blog. He has been involved in the crypto industry since 2017 and believes in the transformative potential of blockchain and cryptocurrencies. His articles have been recognized by influential figures such as Tyler Winklevoss, John McAfee, CZ Binance, and Max Keiser. Currently, Molchan is a news writer at U.Today.
– [Bitcoin chart indicating potential correction](https://u.today/michael-saylor-shares-evidence-his-bitcoin-btc-strategy-is-good-play)
– [Anthony Scaramucci’s prediction for Bitcoin](https://u.today/bitcoin-btc-to-hit-750000-by-end-of-decade-anthony-scaramucci-believes)