Bitcoin is currently on a rally amid rising market optimism, which has pushed the largest crypto asset to a modern all-time high. However, a cryptocurrency analyst warned that the BTC price raise may not be beneficial for latecomers, suggesting a strategic approach by modern entrants to limit losses in the market withdrawal.
Overdue Bitcoin investors face greater risk
In an insightful post on X (formerly Twitter), Ali Martinez, a seasoned market expert and trader, warned behind schedule Bitcoin investors that there could be volatility in the foreseeable future as the digital asset approaches key barrier levels.
The expert advises that while the long-term prospects for BTC are still promising, investors should be aware of short-term price fluctuations and difficulty investing in an already established bull market. This simply means that BTC’s recent uptrend could see piercing corrections in the coming days before rising to higher highs again.
Ali Martinez posted a warning post after citing a sell signal from key indicator Tom DeMark (TD) Sequential on the 4-hour time frame, suggesting an impending price correction, probably up to $72,000.
Although the market expert predicts a return to the $72,000 level, he is confident that this bearish setup could be invalidated and rally to $78,000 will be triggered by a indefinite close above $75,400.
Martinez’s forecast comes in delicate of the recent raise in market optimism and growing confidence in BTC’s future, as major market participants and enthusiasts watch, expecting growth to unprecedented levels.
It is critical to note that Martinez’s short-term high for Bitcoin is at the $85,000 mark. Cryptocurrency expert expects running to a key level that is expected to materialize once the digital asset reaches $78,000.
However, the path to the target of $85,000 may not be effortless as the expert predicts a possible retracement to $71,500 after reaching $78,000, after which an upward move to $85,000 will begin. “It’s playing as expected. I think so Bitcoin it will hit $78,000, hit $71,500 again and then rebound to $85,000,” he said.
Momentum is the key to BTC entering uncharted territory
How BTC is approaching several resistance levels, cryptocurrency analyst Negentropic noted that solid momentum is crucial for the digital asset’s future growth. Negentropic highlighted that Bitcoin remains in a bullish zone for about a month after forming a double bottom near $60,000 in October, followed by a familiar trend that led to previous all-time highs.
According to the expert, maintaining this renewed momentum is vital for another bull market. So, if this positive trend continues, Negentropic believes that the development will further strengthen BTC’s direction into uncharted territory, preparing it for even “higher highs.”
Featured image from Unsplash, chart from Tradingview.com
