Benzinga - Popular Bitcoin (CRYPTO: BTC) trader Stockmoney Lizards went viral with an “unbiased analysis” of potential upcoming Bitcoin price action.
What Happened: In a thread on X (formerly Twitter), the trader’s analysis takes into account the chart patterns of Bitcoin.
While there are bullish factors, such as Bitcoin rallying after the first touch of the old peak and also after halving, the current chart pattern follows a classic Wyckoff distribution. This suggests a potential corrective move downwards, fueled by more negative news, leading to a mid-term bearish conclusion.
Other factors, such as a triple top pattern, decreasing momentum, and a broken and retested neckline, are also highlighted as contributing to the mid-term bearish outlook.
Lizards also points out the Elliott Wave prediction, which indicates a correction with wave iv currently in progress.
As promised, we are now providing a detailed, unbiased analysis (as unbiased as it can be) on #Bitcoin.A lot of people are confused right now.
"WWIII – we go to zero?"
"But halving, we go to moon?"
"New ATH usually means rally?"
"But interest rate hikes? Zero?"
A