Top Crypto Trader Issues Bitcoin Warning, Identifies Critical Zone That Could Host Major Correction
The crypto strategist who put an end to the Bitcoin (BTC) bull market in 2021 is warning of a market correction.
Pseudonymous trader Pentoshi tells his 696,600 Twitter followers that he still expects Bitcoin to surpass $32,000.
However, he warns that a correction is likely to occur as investors act on fear of missing out (FOMO) and take on too much leverage, setting the stage for a decline.
“BTC: As we approach [the] In the $32,000 area, it’s time to ask yourself what you’re aiming for when you finally consider a long position. I think if we get a bigger correction it’s from the $32,500 area where late long positions come in and people start over-leveraging.”
Source: Pentoshi/Twitter
Looking at its chart shows that Bitcoin’s key support levels are around $29,100, $26,600, and $25,100.
Previously, Pentoshi said that Bitcoin’s recent drop fulfilled its forecast of BTC dropping below $30,000 and that Bitcoin still appears poised to rally higher after holding support around $30,000 have.
The trader also forecasts Bitcoin to hit a new all-time high of $180,000 in 2026 and he forecasts a low price level this cycle at $69,000.
“The year is 2026, BTC is trading at $180,000.
People say, “We’re so early.”
They say, “Up.”
They say, “This time it’s so different.”
They buy back for $69,000.”
Bitcoin is trading at $30,517, down 0.6% in the last 24 hours.
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