Cameron Fous, a prominent crypto analyst and trading coach, expects a major Bitcoin price crash following the upcoming Fed announcements. Also, his technical analysis suggests a long-term bearish trend is imminent in cryptocurrency markets.
- Cameron Fous has recently uploaded on his youtube channel, discussing the possible impact of the next CPI and Fed announcements on Bitcoin and crypto markets. “Whatever the CPI numbers are could trigger Bitcoin price to move down to 20K. If we do drop from a thousand points in the US30, that could potentially be the thousand-point move that triggers a sell-off and a breakdown of this support that’s been holding up on bitcoin,” he stated.
- The cryptocurrency market is free-falling downward. Jumping into the market now in hopes of a bounce could result in severe losses. Key levels have been established to determine where the decrease in cryptocurrency prices may flatten.
- According to his analysis, if Bitcoin fails to exceed 28K, the price may hit a new low of around 18K – 20K, which may initiate a long-term bearish rally. However, he believes most investors still struggle to determine the ultimate support for BTC. “We’re not finding any support, and the reason why we’re not finding any support is because the numbers aren’t out yet. So, people are kind of still sitting around, waiting until what’s going to happen on Wednesday and Thursday when the CPI and PPI numbers come out,” he added.
See Related: Bullish On Bitcoin, It’s Trading At A Discount – Bloomberg Intelligence
