Benzinga - by Khyathi Dalal, Benzinga Staff Writer.
Pseudonymous researcher Alex Wacy predicts that Bitcoin (CRYPTO: BTC) has reached its bottom at $52,000, sparking discussions on the cryptocurrency's future.
What Happened: In a recent analysis shared on May 2, Wacy observed the crypto community’s focus on the $52,000 level for Bitcoin. He noted increased buyer interest at this level and suggested that every price rise is being viewed as a short entry to $52,000.
The entire timeline is talking about $52k on $BTC.It looks like the bottom has been reached now:
– More buyers are showing interest at $52,000
– Every rise is perceived as a short entry to 52k
Ideal scenario:
1. Draw a rise to $62,000
2. Bring the price back to just below… https://t.co/iIxaeusG4Q pic.twitter.com/hTx8u2Po8D
— AlΞx Wacy