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Expert Trader Predicts When Bitcoin (BTC) Bulls ‘Will Try to Make a Stand’
Renowned trader and analyst Gamza Khanzadaev has weighed in on the current market trends, cautioning that the crypto market is not out of the woods yet. In his latest update, Khanzadaev emphasizes that the recent price drop in Bitcoin (BTC) is concerning and may lead to further volatility.
As he notes, “the next major trading range, if the above is breached, will be the $85,000-$71,500 area.” While this outlook may seem bleak, Khanzadaev highlights a potential support zone that could arise if prices continue to decline. He suggests that this region may offer a brief respite for bulls.
Notably, this assessment coincides with an unclosed gap on the CME Bitcoin futures chart, which further underscores the uncertainty surrounding the market. However, Khanzadaev believes there’s still room for a bullish reaction within the outlined area.
“Considering year-end tendencies on the crypto market, the rollercoaster ride may last for quite some time,” he warns, advising traders to stay cautious and prepared for unexpected events.
Khanzadaev’s words of caution serve as a reminder that the crypto landscape remains unpredictable, and investors must remain vigilant in order to navigate the present uncertainty.
Source: u.today
