Economist Henrik Zeberg is doubling down on his blow-off high value prediction for Bitcoin (BTC) regardless of what he says are indicators of topping within the inventory market.
In a brand new interview with Ran Neuner on the CryptoBanter YouTube channel, Zeberg predicts a transfer above the $78,000 degree early this week because the election outcomes are available.
“I have a look at the charts and I see that we’re going to see a really huge transfer… Usually after elections, we see a really highly effective transfer, and that’s what we see lining up for Bitcoin. I feel [Bitcoin] goes to do tremendously properly. I feel we’ll get to above $78,000 on Tuesday when we have now the election. We will have transfer right here within the subsequent few days. I’m not bearish proper right here, proper at present on these markets.”
Nonetheless, the chartist believes that the time to get out of threat belongings like Bitcoin and shares might be before most count on. In accordance with Zeberg, the Dow Jones has doubtless already topped or is within the technique of forming a cycle excessive earlier than coming into a big correction which will coincide with an financial downturn within the US.
Zeberg shares a chart that means a 60% crash may very well be on the horizon for the Dow Jones.
“Should you return in time and also you have a look at these candles, these are related to market tops. That’s why I’m saying, we don’t essentially see that the highest is there – it may go to 44,500 [points] on the Dow and I’m lengthy each crypto and likewise the inventory market – however there’s an finish to this, and we’re coming to it. And the top is getting nearer, very a lot nearer.”
As for Bitcoin, Zeberg is focusing on the $115,00-123,000 vary primarily based on Fibonacci ranges and historic rising resistances.
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