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

Zinger Key Points
  • Crypto analyst Pentoshi is no longer as bullish on the market as he was a week ago.
  • Earlier this month, Pentoshi predicted that Bitcoin could surge as high as $25,000.

Cryptocurrency strategist and pseudonymous analyst Pentoshi is issuing a warning about Bitcoin BTC/USD and the wider crypto market.

Sharing his thoughts with his Twitter followers, Pentoshi said that Bitcoin would likely fall to around the $21,000 price level if it breaks below the support level of around $23,300.

He added that the bullish thesis for Bitcoin will be invalidated if the largest digital asset by market cap crumbles under the $23,300 support level.

Also Read: Bitcoin, Ethereum Move Higher; Optimism, Enjin Coin Among Top Gainers

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

Earlier this month, Pentoshi predicted that Bitcoin could surge as high as $25,000 and Ethereum ETH/USD could reach a ‘god candle’ towards the $1,900 mark if BTC flips $23,300 and ETH flips $1,680. 

At the time of writing, Bitcoin was trading at $23,043, down by 6.3% in the last seven days. BTC has fallen 3.5% in the past 24 hours. 

Read Next: Binance's CZ Hits Back At BIS Chief In Fiat Vs Crypto Debate: 'Technology Doesn't Fight With Anyone'

Photo: Simple FX on flickr

Posted In: CryptocurrencyNewsTop StoriesMarketscryptocurrenciesPentoshiprediction
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...