Bitcoin is currently riding the bullish wave amid growing market optimism, causing the largest cryptocurrency asset to reach a new all-time high. However, one cryptocurrency analyst warned that the rise in Bitcoin prices may not be suitable for late investors, suggesting a strategic approach from new entrants in order to minimize losses during the market. Retractions.
Latecomer Bitcoin investors face higher risks
In an insightful post on X (formerly Twitter), Ali Martinez, a market expert and seasoned trader, said, to caution Of late Bitcoin investors, volatility may occur for the foreseeable future as the digital asset approaches key barrier levels.
The expert advises that although the long-term outlook for BTC remains promising, investors should be aware of short-term price fluctuations and fluctuations. difficulty To invest in an already existing bull market. This simply means that BTC’s recent bullish momentum could be followed by sharp corrections in the coming days before it rises again to greater heights.
Ali Martinez issued this warning post after citing a sell signal from the leading Tom DeMark (TD) serial indicator on the 4-hour time frame, indicating an imminent trade. Price correction, Maybe to the $72,000 level.
While the market expert expects a pullback to the $72,000 level, he is confident that this bearish setup may be invalidated and the… pool It will start to the $78,000 level with a sustained close above $75,400.
Martinez’s predictions come in light of the recent surge in market optimism and growing confidence in Bitcoin’s future, as noted by major market participants and enthusiasts anticipating bullish waves to unprecedented levels.
It is important to note that the peak of Martinez’s near-term Bitcoin forecast is at the $85,000 threshold. Crypto expert expected The range to the pivot level will be achieved once the digital asset reaches $78,000.
However, the path to the $85,000 target may not be a smooth ride as the expert envisions a possible pullback to $71,500 after hitting $78,000 before starting an upward move to $85,000. “This plays out as expected. I guess.” Bitcoin It reaches $78,000, then declines to $71,500, then rebounds to $85,000.
Momentum is the key to BTC entering uncharted territory
like Bitcoin Near several resistance levels, cryptocurrency analyst Negentropic noted that strong momentum is crucial for the digital asset’s future growth. Negitropic Highlight Bitcoin has remained firmly in bullish territory for about a month after creating a double bottom around $60,000 in October, which was followed by a familiar trend that led to its previous all-time highs.
According to the expert, maintaining this renewed momentum is essential for its next rally. Thus, if this optimistic trend continues, Negentropic believes that the development will boost BTC’s trend into uncharted territory, preparing it for even “higher peaks.”
Featured image from Unsplash, chart from Tradingview.com