Top Crypto Analyst Issues Warning to Bitcoin Traders, Says BTC Flush Below $30,000 Imminent

Must read

How the Metaverse could impact the lives of kids

The Metaverse is a virtual environment where people can carry out various tasks. The term “metaverse” was a term originally coined...

6 Questions for Dominik Schiener of the Iota Foundation

We ask the buidlers in the blockchain and cryptocurrency sector for their thoughts on the industry… and throw in a few random zingers to...

Ethereum in danger of 25% crash as ETH price forms classic bearish technical pattern

Ethereum's native token Ether (ETH) looks ready to undergo a breakdown move in May as it forms a convincing "bear pennant" structure.ETH price to...

Welcome to Mars: I own everything, have total privacy and life has never been better

This is a parody of the article published by the World Economic Forum titled “Welcome to 2030. I Own Nothing, Have No Privacy And...

A closely followed crypto strategist who has remained long-term bullish on Bitcoin despite its weak price action says that another BTC sell-off event is in sight.

Pseudonymous crypto analyst Credible tells his 329,600 Twitter followers that Bitcoin is likely gearing up for a fresh leg down after bulls failed to establish a higher-low setup.

“Lows at $34,000 almost taken, so eyes now on a flush into $29,000 – $32,000 along with filling that Bitfinex whale’s bids. Dude doesn’t miss. Not at my computer so no charts. This post is just so you guys don’t blow up my phone asking what now. Still not expecting lows at $28,000 to be taken. BTC.”

Credible is referring to a Bitfinex whale that he’s been tracking for over a month now. According to the crypto strategist, the entity’s buy orders, which are often significantly lower than BTC’s current price, are almost always filled by the market.

Now, Credible says that the deep-pocketed investor has stacked buy orders below $34,000.

“Andddd he wants more. Again, this doesn’t mean we MUST drop to these levels to fill these bids, but as stated previously these bids have been filled more often than not, so I personally think there is a higher liklihood that we see these levels than I did before. BTC.”

Image
Source: Credible/Twitter

At time of writing, Bitcoin is changing hands for $34,631.

The crypto strategist is also keeping a close watch on CRV, the governance token of stablecoin-focused decentralized exchange Curve Finance. Credible warns CRV holders that the altcoin’s higher-low market structure might not hold if BTC ignites another sell-off event.

“Have hit my downside targets on this dip but BTC still lingers on in the mid $30,000. Was hoping BTC would have made a decisive move by now so have to be a little more cautious on CRV in the immediate short term. If BTC makes another swing lower, this higher low may not hold.”

Image
Source: Credible/Twitter

CRV is trading at $2.20 at time of writing.

Check Price Action

Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

&nbsp

Check Latest News Headlines


Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: WhiteBarbie/yayhastudio

More articles

Latest article

How the Metaverse could impact the lives of kids

The Metaverse is a virtual environment where people can carry out various tasks. The term “metaverse” was a term originally coined...

6 Questions for Dominik Schiener of the Iota Foundation

We ask the buidlers in the blockchain and cryptocurrency sector for their thoughts on the industry… and throw in a few random zingers to...

Ethereum in danger of 25% crash as ETH price forms classic bearish technical pattern

Ethereum's native token Ether (ETH) looks ready to undergo a breakdown move in May as it forms a convincing "bear pennant" structure.ETH price to...

Welcome to Mars: I own everything, have total privacy and life has never been better

This is a parody of the article published by the World Economic Forum titled “Welcome to 2030. I Own Nothing, Have No Privacy And...

Binance CEO CZ to support Terra community but expects more transparency

Pointing out the potential issues with forking Terra, CZ said that “Minting, forking, don’t create value.” 23086 Total views 60...