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Analyst Who Called Bitcoin Plunge Warns Traders to Prepare for More Pain

A crypto trader who called Bitcoin’s plunge below $10,000 says the worst is not over yet.


The trader, who is known in the industry as TheBoot, was one of the few to accurately predict Bitcoin’s recent drop three days before it happened. The trader tells his 22,000 followers on Twitter that this time around, he expects the leading cryptocurrency to remain below $10,000 for more than a minute.


“BTC looks pretty bad. Shorted above 10k, today might be the last time we are at 5 digits for some time.


If we can close below the trendline I’d love to finally fill that 8.5k gap and go long around then. But it feels like if we go there we probably wick even lower.”


Right now, Bitcoin is down 2.00% at $9,518 according to COIN360 at time of publishing. Ethereum is down 2.04% at $169.70, XRP is up 1.72% at $0.2594 and Litecoin is down 3.45% at $64.63.


Read more at the daily hodl

#btc #bearish