YouTube’s biggest crypto analyst says there could be more pain for traders in the coming days.
After briefly crossing $13,000 on Wednesday, Nicholas Merten says Bitcoin may now be at the start of another 20-40% retracement.
“In order for me to get bullish yet again and start averaging in my next position, I’m going to have to either wait until we get back above [$12,800] or I’m going to be waiting for it to come down around this range towards the low $10,000’s.
If we break through $10,000, if we can’t solidify support here for a few hours, then I’m going to be averaging another position down here around the $9,000 range. Because that’s going to lead us down to 35%. I really don’t see us getting a 40% correction as much as I’d…