Bitcoin has seen a sharp decrease in prices in recent days, but a well -followed encryption analyst remains. The famous chart egrag crypto says Bitcoin is still in the valve marketEven with a decline. He believes that what is happening now is only part of a larger recurrence pattern that has been operated since the end of 2022. According to him, this session has not yet ended, and the market still has another strong escalating step before the actual bear stage starts.
Bitcoin maintains a higher strength than the main levels
Egrag Crypto Explain this Bitcoin follows a clear pattern that has been applied since December 2022. First, prices rise up, then re -test support, go back, correctly correct, and make a new local rise.
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Currently, the most important level of watching is $ 103,000. as long as Bitcoin does not fall Below this level, EGRAG says there is no real danger. Instead, another large pump is expected to arrive before the course is at the top of the course. His personal goal for this step ranges between $ 150,000 and $ 175,000. In his opinion, this would represent the last batch of running the current bull Before the market turns To the next bear stage.
EGRAG stresses that corrections along the road are normal and should not cause panic. He believes that merchants are often preoccupied with a short -term decrease without realizing that they are only part of a larger direction. Looking at the biggest picture, it is clear that the bitcoin bull market He still has a jogging space.
Similarities in the market with gold indicate that running the bull is healthy
Egrag Crypto also draws a strong comparison Between bitcoin and gold. It indicates that many analysts have once believed that gold had reached its climax in a technical goal of $ 3500. Instead, the price continued to rise due to what he calls short pressure. He says that this sudden boom was aimed at trap of retail buyers in the “Al -Masoun Assembly”.
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Note that The demand for gold is very very high Even store owners who have contracts of experience say they have never seen such work. For EGRAG, this type of noise is usually a warning that the cycle is near the top. It is expected that gold will eventually decrease by $ 600 to $ 1,000 as soon as Russia and Ukraine restore peace, a move that will once again confirm the periodic nature of the market.
For Bitcoin, the same lesson applies. Despite the loud voices Call the bull runsEGRAG insists that the course is still alive. It sees the current contraction as just a stop before another significant increase. He plans to invest about $ 30,000 in the next macro cycle and later rotates to strong Altcoins. In his opinion, stay patient and respect for courses The most effective approach.
Distinctive image created with Dall.e, Chart from TradingView.com
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