Tom Lee hints at a possible Bitcoin correction. What awaits us really?

Cryptomaniac
By June 25, 2019 11:03

BTC price-coinconomist

Co-founder of Fundstrat Global Advisors Tom Lee believes that in the near future we can expect a Bitcoin correction. Lee refers to the technical analysis figure known as the “double top”, which is a reversal.

“Our technical analyst Robert Slymer argues that there is no triple top. We will soon find out,” wrote Tom Lee on his Twitter, noting that this is not a prediction.

At the same time, Bitcoin is trading at $ 11382 on the American crypto-exchange Poloniex. If Lee is right and the resistance at $ 11,496 is not overcome, the price may drop to $ 8,127, after which growth will theoretically continue.

BTC price 25.06

Note also that among the factors indicating a possible correction also serve the RSI, which has now entered the overbought zone; as well as divergence on the MACD indicator, which is not so critical now, but may serve as a reason for consolidation.

However, if Lee’s hopes do not justify themselves and the resistance of $ 11,496 to Bitcoin passes without much delay, then the next level you will need to look at is $ 13,584.

Recall that recently Tom Lee in an interview with CNBC predicted Bitcoin’s growth to $ 20,000 based on FOMO syndrome.

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Cryptomaniac
By June 25, 2019 11:03