BTC Repeats Pre-FTX Setup, Analyst Says
Visit this link to make money with bitcoin and other cryptocurrencies. Receive daily altcoin signals with the best crypto trading startegy – https://telegram.me/freecryptosignalsdaily Bitcoin may still face a deep capitulation event despite an improving sentiment across the broader market. Bitcoin (BTC) briefly crossed $67,000 yesterday after a recently brokered peace agreement between the United States and Iran boosted market sentiment. Despite the rally, the crypto asset may be approaching another capitulation event, according to crypto analyst Doctor Profit, who compared the current market structure to the setup seen before the FTX collapse in 2022. 2022-Style Capitulation Pattern In the latest tweet, the analyst explained that before that crash, Bitcoin was moving higher while forming a bullish divergence on the weekly chart, which led many traders to buy near the $20,000 level. However, panic selling followed after the market collapsed, leaving many investors with...