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Willy Woo Explained What They Expect in Bitcoin Price: “Within One to Three Weeks…”

BitcoinsistemiBitcoinsistemi2024/09/13 08:21
By:Mete Demiralp

Cryptocurrency analyst Willy Woo shared in his statement what he expects from the Bitcoin price in the coming period.

Renowned crypto analyst Willy Woo has shared his latest views on Bitcoin, offering a mix of short-term optimism and long-term caution.

Woo, known for his data-driven analysis, outlined key signals for the cryptocurrency across different time frames.

In the short term, Woo predicts a bullish wave for Bitcoin in the next 1-3 weeks based on timing signals.

However, his medium-term outlook remains cautious. While Bitcoin’s demand and supply dynamics have been trending downward since the halving event in April, Woo noted that a potential reversal pattern has emerged over the past four weeks. While this provides some hope, he added that it has yet to be confirmed and Bitcoin will likely need more time before breaking out of its all-time highs (ATHs).

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On a macro scale, Woo dismissed fears that Bitcoin is in a bear market, stating that BTC is in a “reaccumulation pattern.” While recent risk signals have shown lower lows, he argued that this is part of a larger accumulation phase rather than a downtrend.

Woo also touched on broader traditional finance (TradFi) risks, noting that falling bond rates could be a sign of an impending market crash. Woo drew comparisons to past economic downturns, such as the 2020 COVID-19 crash and the 2008 financial crisis, suggesting that such declines could herald a crash before a long-term, liquidity-driven rally across all asset classes.

*This is not investment advice.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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