A cryptoanalyst, who previously predicted that Bitcoin price would fall from $10000 to $3000, tweeted with the word “caution”:
"Caution! A huge “evening doji star” [sunset = rollback] of Bitcoin on the weekly chart [link to Trading View]! ”
On the Trading View website, in his analysis, the crypto trader explained that the recent Bitcoin rally from $3400 to $5450 already marked a huge “evening doji star”.
“As a rule, the bullish candle that rose in front of the evening star Doji is completely “erased ”on the other side,” says Magic Poop Cannon. "In other words, with the development of such a scenario next week, our recent achievements in the price of Bitcoin can completely erase."
If these expectations of Magic Poop Cannon will come true, the Bitcoin rate may drop by 15–20% to $4100 over the next 10 days, and this trend may continue to about $3500.
It seems that even with short-term “bearish” views, Magic doesn’t lose its long-term optimism for Bitcoin. Earlier, he tweeted:
Magic also says that over the 11 years of his analytical work, he has become much more optimistic, since he "understands where the price goes." According to him, with the next bull market, Bitcoin could grow to about $150,000, and this could happen around August 2023.