"My $9K Bitcoin Prediction Could Be Wrong..." | Gareth Soloway

Bitcoin has been seeing sideways action in the past 30 days, as it hasn’t broken the $18,000 level since December 14th of 2022 when it reached $18,320.232. Now, Bitcoin took a slight uptick and is trading for $18,206.57 at the time of writing, up 8% in the past 7 days while Ethereum is up 11% in the past 7 days, trading for $1,403.78. This recent breakout is a positive sign in an otherwise bearish environment not just with pricing, but with headlines. Coinbase is the latest string of bearish news, as they announced a second round of job cuts, slashing their workforce by 20% while also being downgraded by the S&P, going from a BB to a BB-, citing weak profitability from lowered trading volumes, regulatory risks, and ongoing uncertainties to adverse business. Despite the bearish sentiment, the breakout of Bitcoin above $18,000 was bullish enough to change the mind of trader Gareth Soloway in the short term at least. As a guest on Thinking Crypto, Soloway gave his take on the current environment for Bitcoin and other cryptos. Gareth has been calling for 9K bitcoin for quite a while and hasn’t changed his stance. Gareth still believes that more downside is coming, but in the short term, there is bullish action for Bitcoin which is a great opportunity to make money and all things can change if it stays above his target.

Gareth Soloway is renowned for his macroeconomic analysis, technical chart analysis, and trade signal alerts. He has created proprietary indicators like the Confirmation Signal, River Theory, Three Tail Theory, cycle analysis and a sentiment indicator that is game-changing.
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