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Top Crypto Analyst Warns Bitcoin Traders, Says BTC Flood Below $30,000 Imminent

A closely followed crypto strategist who is bullish on the long-term despite its weak price action Bitcoin has remained says another BTC sell-off event is on the horizon.
Pseudonymous crypto analyst Credible tells his 329,600 Twitter followers that Bitcoin is likely preparing for a fresh slide after bulls failed to establish a higher-low setup.

“Lows at $34K almost reached so eyes for a flush into $29K – $32K along with bid fulfillment of this Bitfinex whale. Dude don’t miss. Not on my computer, so no charts. This post is just so you guys don’t blow up my phone and ask what now. Still not expected to see bottoms near $28,000. bitcoin.”

Credible refers to a Bitfinex whale it has been tracking for over a month. According to the crypto strategist, the company’s buy orders, which are often well below BTC’s current price, are almost always filled by the market.

Now Credible says the well-funded investor has stacked buy orders below $34,000.

“Andddd, he wants more. Again, this doesn’t mean we NEED to drop to those levels in order to fulfill those bids, but as mentioned before, these bids have been more than not fulfilled, so I personally think the likelihood of us seeing these levels is higher than me before . bitcoin.”
Source: Credible/Twitter
At the time of writing, Bitcoin is changing hands for $34,631.

The crypto strategist is also watching CRVthe governance token of the stablecoin-focused decentralized exchange Curve Finance, exactly. Credible warns CRV holders that if BTC triggers another selloff event, the altcoin’s high-low market structure may no longer hold.

“I met my downside targets on this dip, but BTC still lingers in the mid-$30,000s. Was hoping that BTC would have made a decisive step by now, so one has to be a bit more cautious with CRV in the short term. If BTC makes another swing lower, this higher low may not hold.”
Top Crypto Analyst Warns Bitcoin Traders, Says BTC Flood Below $30,000 Imminent, Crypto Trading NewsSource: Credible/Twitter
CRV is trading at $2.20 at the time of writing.
Check the price action

Source: Crypto News Deutsch

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