Crypto Analyst Pegs New Bitcoin Price Target At $13.5K: 'For Now Bears Are In Control'

Crypto Analyst Pegs New Bitcoin Price Target At $13.5K: 'For Now Bears Are In Control'

Crypto analysts are far from optimistic about Bitcoin’s BTC/USD future, as the FTX FTT/USD contagion spreads fear among investors, who are increasingly moving their cryptocurrencies off exchanges.

What Happened: A crypto analyst on Twitter flagged several high-liquidity zones for BTC. The largest of these lies at $13,500. “Although there’s liquidity to grab around $18.5k, $17.2k and $15.5k, the bigger one is lower at $13.5k,” they stated.

See More: Decentralized Exchanges

This comes a day after another crypto analyst ‘Crypto Tony’ tweeted “Bulls really need to reclaim $17,600 for us to be able to shift nicely in a long position,” adding that “for now bears are in control.”

Another analyst Capo of Crypto who first predicted the 2022 market collapse has been posting warning messages. Altcoins could see further losses of up to 50%, the analyst said. “I repeat... EXIT ALL THE MARKETS,” suggesting that “most people are not ready for what is coming.”

Analyst “Stock Monkey Lizard’ noted that 2015 and 2022 both had a black swan event dragging BTC down to a new low. “Market conditions and sentiment now seem even worse”, they said. According to the analyst, BTC’s relative strength index has never been this low. The graph posted by the analyst shows RSI at 40.

Price Action: BTC is trading at $16,808.98, up 1.51% in the last 24 hours, according to Benzinga Pro.

Read Next: Bitcoin, Ethereum, Dogecoin Mixed: Analyst Says Cryptos Weakening As 'Risk Appetite Just Left The Building'

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