It’s been just revealed that there is a new final warning for Bitcoin that is worth mentioning. Check out the latest reports about this below.
New Bitcoin warning is out
Popular crypto analyst Nicholas Merten warned the people that Bitcoin’s (BTC) recent surge of over 56% does not necessarily mark the start of a new bull market.
In a new video update, the host of DataDash said that after BTC’s rally from the lows, the flagship cryptocurrency is likely reversing its price trend.
”We have seen stagnation in momentum roughly since back in late January, signs of distribution where institutions are taking advantage of the upward market order flow and buy-side pressure from retail and other speculators and traders in the market.”
He continued and said this:
“On top of that as well, we’ve seen the leading indicator that we utilize for trend reversals flashing, that it’s likely moving lower after a 5% move that we got yesterday. We already started to get some warning signs the other day here, showcasing that the momentum had stalled and a trend reversal is likely in play, but we got a clear decisive move of 5%, the biggest candle move we’ve had since back on January 20th…”
At the moment of writing this article, BTC is trading in the red, and the king coin is priced at $21,815.
Bitcoin new price prediction
The really popular analyst and trader Michaël van de Poppe is updating his outlook on king crypto Bitcoin (BTC) over the coming weeks and months.
Van de Poppe said recently in a new video that Bitcoin could trade in a range for a while before rallying to a price of up to $40,000.
According to the popular crypto analyst and trader, the $37,000 to $40,000 price level is where most of the investors and traders with open positions in Bitcoin are likely to close their positions, possibly in the second quarter (Q2) of 2023.