Will Bitcoin fall below $14,000?
Caleb Franzen, senior market analyst and strategist at Cubic Analytics, took to Twitter to share his views on Bitcoin’s direction. He thinks that the price of the leading cryptocurrency is heading towards $14,000 and could fall further. Franzen, who used to work as an analyst in the banking sphere and then switched into crypto analysis, shared a Bitcoin chart, where he highlighted an area based on the previous BTC lows, where he reckons Bitcoin is currently heading.
It will act as a “bitcoin magnet,” he tweeted, adding that this meant a target of $11,400 to $13,900 for the major digital currency. He explained that the target is the level that Bitcoin price ended at in December 2017, the peak of this cycle, and the same $13,900 as resistance in 2019. This makes him confident that BTC is likely to reach that target. However, it admits that it just could happen and is not a definite forecast.
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