Analysts Caution Crypto Traders, Say Lower Highs Signal Major Correction Incoming

A pair of crypto analysts aren’t buying bullish optimism on Bitcoin’s short-term prospects.

Crypto trader and entrepreneur Bob Loukas says Bitcoin’s rally that began in December of last year is on hold, with Bitcoin now posting a series of lower highs in succession. Loukas expects BTC to move as low as $7,900 in a “major shakeout” before a renewed rally begins.

“Buy and hold as if it’s going to rocket out of this consolidation. But know the intermediate-term rally from Dec lows ended. Therefore, a major shakeout from this consolidation, before a continuation, would be perfectly normal behavior.” Read More at DailyHODL...

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