{"id":36325,"date":"2024-02-21T18:53:09","date_gmt":"2024-02-21T22:53:09","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=36325"},"modified":"2024-02-21T18:53:09","modified_gmt":"2024-02-21T22:53:09","slug":"bitcoin-bulls-in-jeopardy-analyst-sounds-warning-of-possible-retest","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2024\/02\/21\/bitcoin-bulls-in-jeopardy-analyst-sounds-warning-of-possible-retest\/","title":{"rendered":"Bitcoin Bulls In Jeopardy? Analyst Sounds Warning Of Possible Retest"},"content":{"rendered":"

Bitcoin has been on a bullish trend, reaching $50,000<\/a> for the first time in two years, but some crypto analysts still anticipate that the token might be gearing up for a potential correction.<\/p>\n

Bitcoin Could See A Pullback At Any Moment<\/h2>\n

According to the recent analysis by cryptocurrency expert Crypto Jelle, Bitcoin could undergo a retest anytime soon. Jelle shared<\/a> his latest projections with his thousands of followers on the social media platform X (formerly Twitter).<\/p>\n

A chart of Bitcoin accompanied his X post to demonstrate his observations and further back up his claims visually. Crypto Jelle\u2019s analysis examines the current and past position of Bitcoin and has identified the presence of a \u201crising channel.\u201d\u00a0<\/p>\n

He stated that Bitcoin has been in this rising channel \u201cover the past 6 years.\u201d He further pointed out that the crypto asset is not breaking out of the \u201cchannel anytime soon.\u201d<\/p>\n

Due to this, Crypto Jelle believes that the price of BTC<\/a> might witness a \u201cretest of the mid-range.\u201d Thus, he has urged investors to get involved with the token to increase prices and avoid the impending pullback.<\/p>\n

The post read:<\/p>\n

Bitcoin has spent the past 6 years inside this rising channel. Doesn\u2019t look like that\u2019s going to change anytime soon. In fact, it seems about time for a retest of the mid-range. Send it higher.<\/p>\n

Jelle has also underscored the potential for the digital asset to soar higher to a new all-time high. In another X post<\/a>, he highlighted that today is \u201cone of those days to recall the part of the cycle we are in.\u201d<\/p>\n

Jelle has underlined two distinct timeframes for Bitcoin, which include the lower timeframe and the higher timeframe. He asserted that in the lower timeframe, BTC\u2019s performance looks like \u201cdog poop.\u201d<\/p>\n

Meanwhile, in the higher timeframe, BTC\u2019s performance looks promising, suggesting a move to a new price level. Jelle appears bullish on Bitcoin<\/a> as he has encouraged the community not to be \u201cshaken out\u201d of the market.<\/p>\n

Massive Sell-Off By BTC Whales<\/h2>\n

Despite the upward momentum, reports have revealed a significant selling spree from BTC whales. Ali Martinez, a well-known crypto analyst, reported<\/a> Tuesday\u2019s development\u00a0on the X platform.<\/p>\n

Per Martinez\u2019s post, Bitcoin whales<\/a> might lose their confidence in the token. Martinez asserted that whales have sold over 30,000 BTC valued at $1.56 billion in the past 2 days.<\/p>\n

The report has sent quite a frenzy in the community, leaving crypto enthusiasts to ponder the impact of the sell-off. However, it is believed that this could be a notable development, indicating the start of a distribution phase, which could extend the low timeframe bearish action.\u00a0<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Bitcoin has been on a bullish trend, reaching $50,000<\/a> for the first time in two years, but some crypto analysts still anticipate that the token might be gearing up for a potential correction.<\/p>\n

Bitcoin Could See A Pullback At Any Moment<\/h2>\n

According to the recent analysis by cryptocurrency expert Crypto Jelle, Bitcoin could undergo a retest anytime soon. Jelle shared<\/a> his latest projections with his thousands of followers on the social media platform X (formerly Twitter).<\/p>\n

A chart of Bitcoin accompanied his X post to demonstrate his observations and further back up his claims visually. Crypto Jelle\u2019s analysis examines the current and past position of Bitcoin and has identified the presence of a \u201crising channel.\u201d\u00a0<\/p>\n

He stated that Bitcoin has been in this rising channel \u201cover the past 6 years.\u201d He further pointed out that the crypto asset is not breaking out of the \u201cchannel anytime soon.\u201d<\/p>\n

Due to this, Crypto Jelle believes that the price of BTC<\/a> might witness a \u201cretest of the mid-range.\u201d Thus, he has urged investors to get involved with the token to increase prices and avoid the impending pullback.<\/p>\n

The post read:<\/p>\n

Bitcoin has spent the past 6 years inside this rising channel. Doesn\u2019t look like that\u2019s going to change anytime soon. In fact, it seems about time for a retest of the mid-range. Send it higher.<\/p>\n

Jelle has also underscored the potential for the digital asset to soar higher to a new all-time high. In another X post<\/a>, he highlighted that today is \u201cone of those days to recall the part of the cycle we are in.\u201d<\/p>\n

Jelle has underlined two distinct timeframes for Bitcoin, which include the lower timeframe and the higher timeframe. He asserted that in the lower timeframe, BTC\u2019s performance looks like \u201cdog poop.\u201d<\/p>\n

Meanwhile, in the higher timeframe, BTC\u2019s performance looks promising, suggesting a move to a new price level. Jelle appears bullish on Bitcoin<\/a> as he has encouraged the community not to be \u201cshaken out\u201d of the market.<\/p>\n

Massive Sell-Off By BTC Whales<\/h2>\n

Despite the upward momentum, reports have revealed a significant selling spree from BTC whales. Ali Martinez, a well-known crypto analyst, reported<\/a> Tuesday\u2019s development\u00a0on the X platform.<\/p>\n

Per Martinez\u2019s post, Bitcoin whales<\/a> might lose their confidence in the token. Martinez asserted that whales have sold over 30,000 BTC valued at $1.56 billion in the past 2 days.<\/p>\n

The report has sent quite a frenzy in the community, leaving crypto enthusiasts to ponder the impact of the sell-off. However, it is believed that this could be a notable development, indicating the start of a distribution phase, which could extend the low timeframe bearish action.\u00a0<\/p>\n

<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-36325","post","type-post","status-publish","format-standard","hentry","category-blockchain"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/36325","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/comments?post=36325"}],"version-history":[{"count":1,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/36325\/revisions"}],"predecessor-version":[{"id":36334,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/36325\/revisions\/36334"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=36325"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=36325"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=36325"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}