- Another brutal correction hits the crypto market and BTC price falls steadily.
- The bleeding price of BTC is seeping into other altcoins giving rise to bearish sentiment.
- Seasoned analysts advise holding and watching the market closely for bullish surge.
Another brutal correction phase once again turns the tides for Bitcoin and the greater crypto market. Forecasts about altcoins price surges and a BTC recovery seem to be delayed in line with this latest brutal correction phase.
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Amidst the chaos, several crypto analysts rise to give hope to the global crypto community. Corrections are often followed by a frenzy of panic selling which adds a further delay to the recovery phase.
In particular, popular crypto trader and investor, Lark Davis addresses the crypto community. As we can see from the post above Davis acknowledges how the crypto market is choppy and bearish sentiment is rising once again.
Despite this, Davis advises crypto investors and traders to either double down on solid, capable, and high conviction projects. He says this is a great time to pump bags at ridiculously discounted prizes or to simply hold and wait out the rough digital weather.
Meanwhile, the reputed silver-tongued crypto analyst, Doctor Profit, known for his accurate predictions drops his latest crypto market report. He says that Bitcoin will continue a sideways movement and notices a falling wedge pattern.
This checks out at the wedge pattern continues to emerge as the correction dip adds to the formation. Despite this Doctor Profit believes Bitcoin will target a surge between $70,000 and $72,000 in a few weeks time.
In addition he adds how he foresees unimaginable gains and growth for Bitcoin and altcoins in Q3 and Q4 of 2024. Still, he adds how it is important to keep an eye on bearish trends as BTC has lost several support lines like the MA100 daily, MA20 daily, MA50 daily, and the EMA100 daily.
He says he’s watching the MA50 daily level for a breakout and hopefully a breakout from the falling wedge on the daily chart as well. If this breakout plays out then a surge to $72,000 is highly plausible in his eyes.
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