Bitcoin analyst says “It was the last Deviation before its run to $110,000”

On May 2, 2024

A popular Bitcoin analyst claimed that the recent correction in the trade price was like a manipulation, instead of the usual downfall as a part of bearish sentiments.

As we know, yesterday the Bitcoin trade price crashed by 7% in 24 hours, following the bad news around the money market.

https://t.co/qG0KE2tmhu #Bitcoin Plunges Below $57k Level Amid A Stagflationary Feel In The U.S
— Bitcoinik (@Bitcoinikdotcom) May 1, 2024

On 2 May 2024, A popular crypto analyst Rekt Capital shared his analysis and said that the latest correction in the trade price of Bitcoin was mostly a part of manipulation.

#Bitcoin Last Deviation before its run to $110,000?🚀

On the daily timeframe it looks like yet another manipulation before #BTC takes off.

Plus LMACD reintegrated the reset zone and could be crossing bullish promptly. pic.twitter.com/1SFMhPIBoB
— Titan of Crypto (@Washigorira) May 2, 2024

In another analysis, Rekt Capital said that some negative factors are surely impacting the bull sentiments around Bitcoin but it doesn’t mean that the bull is over.

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According to his analysis, Bitcoin may face up to -mm38% correction in the trade price, which means the price may even hit the $ 51.5k level.

#Bitcoin Correction to $51,600 and then $110,000?

Unfortunately #BTC closed the monthly candle below the $61,300, level we were monitoring carefully. 👀

Hopefully it is just manipulation but if we stick only to the technical aspects, the 2Monthly chart just printed a reversal… pic.twitter.com/e0L6xIkRXb
— Titan of Crypto (@Washigorira) May 1, 2024

Bitcoin hater & US Global economist Peter Schiff also shared his bearish opinion on Bitcoin and said that the $60k level is now a resistance level for the Bitcoin market. With his analysis, he suggested people sell & get out from Bitcoin to prohibit big losses.

Notice on this shorter-term #Bitcoin chart that $60K, which was support has become resistance. Bitcoin is forming a short-term, head-and-shoulders top, with the head just under $60K, the shoulders around $58.5K and the neckline just below $57K. The downside objective is $54K. pic.twitter.com/fkDHBSmyq2
— Peter Schiff (@PeterSchiff) May 2, 2024

Earlier this a few weeks ago, some Bitcoin enthusiasts shared their opinion on the Bitcoin bull sentiment & said that the lack of new bull factors may slow down the inflow of money in the market.

If we look at the past Bitcoin halving events then we found that Bitcoin every time surged 100%+ after 12 months of post halving phase. So here we should be optimistic about these factors, & should not be diverted from Google Bitcoin trade decisions.