RATE Group | Analyst Tells Bitcoin and Crypto Traders Not to Rush in Front of Moving Train, Warns BTC…
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Analyst Tells Bitcoin and Crypto Traders Not to Rush in Front of Moving Train, Warns BTC…

12 Mar Analyst Tells Bitcoin and Crypto Traders Not to Rush in Front of Moving Train, Warns BTC…

Posted at 04:04h in Cryptocurrency News by

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Crypto analyst Jacob Canfield says traders should tread lightly – warning Bitcoin (BTC) may be nowhere near hitting a bottom.

He’s tracking BTC’s weekly moving averages to identify the next key levels of support.

“Don’t panic. Think logically. Make your plan. There are two support levels to watch for on Bitcoin.

The weekly 100MA ($7,200-$7,500) and the weekly 200MA ($5,000-$5,500) (where we bounced at $3,400) Wait for a reaction. Be patient. No need to rush in front of a moving train.”

Source: Jacob Canfield/Twitter

As the leading cryptocurrency continues to show red and traditional markets take a prolonged beating, another top analyst is outlining $7,700 as a key short-term level to watch.

Economist Alex Krüger says BTC bulls should now be on high alert.

“The BTC outlook is extremely uncertain in this market environment….

Technically, below $7,700 the BTC 2020 bull trend is over. The next levels are the $7,400-$7,200 area, $6,800…

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