Crypto Analyst Who Predicted Bitcoin Crash Below $57,000 Reveals Next Target

The Bitcoin worth has seen an enormous draw back this week going into the FOMC assembly on Wednesday. The digital asset’s worth noticed a pointy 8% drawdown, which despatched its worth beneath $57,000, its lowest level in two months. Whereas this got here as a shock to many, one crypto analyst particularly was in a position to pinpoint this crash, and their analyst reveals the place the Bitcoin worth is likely to be headed subsequent.

Crypto Analyst Predicts Bitcoin Value Crash

Crypto analyst RLinda has been one of many few analysts who precisely predicted this Bitcoin worth crash. In an April 27 submit on the TradingView web site, when the BTC worth was nonetheless trending above $63,000, the analyst had predicted that the worth was headed for a crash.

RLinda’s evaluation adopted the buildup and liquidity development of the cryptocurrency, declaring the degrees that had been vital to the worth. Within the chart, she outlines the place Bitcoin worth may fall subsequent, completely capturing the decline beneath $57,000.

This evaluation performed out over the subsequent one week and BTC has now efficiently dropped beneath $57,000 earlier than bouncing again up once more. As proven within the chart, the bulls had been additionally in a position to preserve assist above $56,000 and this offered a bounce-off level for the cryptocurrency.

Supply: Tradingview.com

The place The BTC Value Is Headed Subsequent

Now that RLinda’s prediction for a Bitcoin worth has performed out, the likelihood that the subsequent stage of the evaluation will play out has turn out to be excessive. Regardless of the worth drop, the crypto analyst stays very bullish for the Bitcoin worth, predicting a restoration from right here.

As bulls have been in a position to maintain above $56,000, RLinda’s evaluation predicts a restoration again above $60,000. The three factors of curiosity above this stage are the $59,313, $61,447, and $64545 ranges. These are the degrees for bulls to beat to take care of an uptrend.

Save for some dips right here and there, the crypto analyst expects the Bitcoin worth to finally rise to its all-time excessive above $73,000. From right here, it might imply an over 30% improve within the BTC worth, a transfer that may most likely see the broader crypto market get better on the identical time.

RLinda shouldn’t be the one analyst that’s bullish on the BTC worth from right here as pseudonymous crypto analyst alfamooz has additionally predicted a worth rally. The latter’s prediction is much more bullish, with the expectation that the pioneer cryptocurrency will attain as excessive as $100,000.

Nevertheless, on the time of writing, the bears proceed to dominate the Bitcoin worth. It’s at present buying and selling at $57,500, with a 7% worth drop within the final day and an 11% lower within the final seven days.

BTC worth dumps beneath $58,000 | Supply: BTCUSD on Tradingview.com

Featured picture from AD, chart from Tradingview.com