Analyst Claims Bitcoin is Poised for a Plunge to $20,000 as Rally Slows

Bitcoin saw a massive rally yesterday evening that allowed it to set fresh all-time highs above $29,000 The cryptocurrency did meet some serious selling pressure here that slowed its ascent and caused it to decline back down towards $28,000 It does appear to be finding some support here, but it remains unclear as to how long it will last for One analyst spoke about this in a recent tweet, noting that he is preparing for a total trend shift that causes BTC to move back down towards $20,000 He notes that the time and distance of each leg higher is getting smaller as BTC advances higher, which is a sign of exhaustion in his eyes Bitcoin is currently sliding lower following a break above its all-time highs that took place yesterday evening. The strength that the cryptocurrency has seen as of late cannot be understated, as each week it has…

Read the original article here