Crypto NewsAnalysisCryptoQuant Analyst Evaluates the Possibility of Correction in Bitcoin, Announces BTC Price...

CryptoQuant Analyst Evaluates the Possibility of Correction in Bitcoin, Announces BTC Price Expectation!

CryptoQuant analyst stated that there may be a correction in Bitcoin in the coming weeks and pointed to $ 48,000.

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While Bitcoin rose above $ 53,000 with the rise it experienced in the past weeks, it reached the highest levels it has seen in the last 2 years.

However, some analysts warn investors that there may be a correction in Bitcoin in the coming weeks.

CryptoOnchain, one of the CryptoQuant analysts, stated in his latest analysis that there may be a correction in BTC in the coming weeks and pointed to $ 48,000.

Stating that BTC charts and on-chain data indicate a correction for the price, the analyst claimed that this correction may be caused by the sales of short-term Bitcoin investors.

“On-chain data and Bitcoin price charts indicate the possibility of a correction in Bitcoin price in the coming weeks.

Based on the short-term Holder SORP's 30-day moving average, Bitcoin is approaching the selling area for short-term investors.

Examination of the technical chart also confirms this situation. Bitcoin remains below resistance on the technical chart. It looks like Bitcoin could decline to the $48,000 region. “

Bitcoin continues to trade at $53,450 at the time of writing.

On the other hand, it appears that Grayscale sent $253 million worth of BTC to the Coinbase exchange to sell in the last hours. While analysts think that there will be a minor price fluctuation for this reason, many state that the main target is $ 58,000.

*This is not investment advice.



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