Joao Wedson, founder of cryptocurrency analysis company Alphractal, has listed his new predictions for Bitcoin.
Joao Wedson, founder of cryptocurrency analysis company Alphractal, made statements evaluating Bitcoin’s recent price movements. Wedson pointed out that Bitcoin increased by exactly $10,000 after the re-accumulation and distribution schemes he shared 10 days ago. BTC is currently trading around the $109,000 level.
“I called the bottom just below $99,000 based on the Short-Term Holders Realized Price test,” Wedson said.
Stating that their short-term target is the $ 113,000 region, Wedson suggested that there is high liquidity concentration at this level and a possible bull trap can be established. However, he warned investors, claiming that now is not the time to enter new long positions: “The opportunity has passed. Now is the time to manage risk or catch strong jumps in some altcoins.”
Describing June 22 as a “bear trap,” Wedson said he expects a bull trap and then a new bear trap in the coming period. He predicted that after these fluctuations, there could be a final upward movement until the beginning of September, and then a long-lasting horizontal market period could follow.
