This Analyst Issues Bitcoin, Crypto Warning: ‘Am I As Confident In The Market As I Was A Week Ago? No.’

Cryptocurrency strategist and pseudonymous analyst pentoshi Issuing warnings about Bitcoin BTC/USD more comprehensive crypto market,

Sharing his thoughts with his Twitter followers, Pentoshi said that bitcoin could drop further towards the $21,000 price level if it breaks below the support around $23,300.

He added that the bullish thesis for Bitcoin would be invalidated if the largest digital asset by market capitalization breaks below the $23,300 support.

Read also: Bitcoin, Ethereum Move Higher; Optimism, Engine Coin Among Top Gainers

Talking about the crypto market, he said that he is no longer as bullish on the market as he was a week ago, and that his confidence has decreased compared to last week due to the weak momentum.

Earlier this month, Pentoshi predicted that bitcoin could soar to $25,000 and Ethereum ETH/USD If BTC flips $23,300 and towards the $1,900 mark a ‘godly candle’ could be reached ETH flips $1,680.

At the time of writing, bitcoin is trading at $23,043, down 6.3% over the past seven days. BTC is down 3.5% in the last 24 hours.

Read further: Binance’s CZ Hits Out at BIS Chief in Fiat vs. Crypto Debate: ‘Technology Doesn’t Fight With Anyone’

picture: simple fx on flickr

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