Bitcoin, Ethereum, and other coins in the market faced heavy selling and tremendous pressure on Thursday as investors are reportedly shifting to safer investment options such as bonds. Craig Johnson and Bill Baruch have recently shared some of the key levels to watch for Bitcoin price actions in the future and they should be observed carefully. Craig Johnson Waiting For Next Opportunity as Bitcoin Plunges The Chief Market Technician at Piper Sandler, Craig Johnson has been observing the Bitcoin chart patterns closely to carve an idea of where Bitcoin will head in near future and talking to the Trading Nation platform of CNBC, he said: “We broke out in January. A few months ago, we made this peak. I actually would go back and put the retracement levels on top of bitcoin, and when you see that, you can see that around 33,000 to 34,000 is a very important retracement level.” He was referring to the Fibonacci retracement in the technical analysis of the asset that marks the key resistance and support levels. Along with this, he mentioned that history tells us that Bitcoin will break further and said: “You’ve already seen bitcoin correct about 45%. When you go back to the last two prior cycles, those crypto cycles lasted about 1,000 days. You’ve got to be prepared to batten down the hatches and kind of wait for this to consolidate for quite some time longer before you start the next big major leg higher.” Blue Baruch Being a True Investor in BTC Bill Baruch, the President of Blue Line Capital and a well-known name in the market is waiting for the next chance to invest in the flagship currency. During the same segment, he said: “Give me $25,000 on bitcoin, and I’ll be buying more. I’ve been in space since 2017. There are times where I’m in it, there are times when I’m not, I totally exited through early this year.”
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