Frightening Warning From The Famous Bitcoin Bull: Bitcoin (BTC) Will Fall Hard!
coinputin.com – Raoul Pal, CEO of Real Vision and Bitcoin advocate, has issued a warning that a major bitcoin fix could be on the horizon.
In a series of tweets, the Big Bitcoin bull tells its 289,000 Twitter followers that Bitcoin is showing signs of reaching a local peak. Pal uses the Demark indicator to schedule input and output opportunities. When the Demark consecutive indicator flashes at 9, traders consider it a pullback signal.
The macro investor is also looking at BTC’s weekly chart, which says it has also peaked.
“The weekly is also accumulating the highest numbers… and a larger correction seems very likely.”
Pal ranks 9 on the monthly chart.
“And worryingly, the monthly chart settled for a peak of 9.”
Pal notes that the intersection of peak signals over multiple time periods indicates the possibility of a significant retreat.
“All of this raises the possibility of a larger correction. It’s not a [certainty], but the top models in the 3 time series are something to be taken seriously, and if you’re not a long-term HODLer, I suggest you be a little careful.”
Trader and cryptocurrency analyst Michaël van de Poppe also expects a BTC fix. In a video he just released, Van de Poppe outlines the levels investors should pay attention to.
“What we’re seeing here is the weekly field, the resistance zone, which is still an all-time high. We have levels that we initially flagged as interesting compared to previous resistance levels that were in the weekly timeframe, and most importantly around $ 14,000 – $ 13,500. So any of these levels are very important if we make a corrective move. If we can’t make sense of it, it’s probably going to jump.”