Cryptocurrency

Bitcoin Crash to $6K? Quantum-of-hedge-Fund-analysis warns: BTC will crash

The Quantum Hedge Fund, according to Bitcoin will crash in the coming months, probably in the direction of $ 6,000.The company refers to a Fractal, in which the crypto-currency collapses after the entry into the area of between £ 12,500 and $ 17,000 down.Meanwhile, strong fundamental data, draw a bullishes image for Bitcoin.

Bitcoin still has some fuel left to its price increase in the direction of $12.500-$17,000 to continue. But then a crash is imminent.

The write analysts of the Hong Kong-based Quantum Hedge Fund in the a on Saturday published a warning. The Team has found an inherent strain in the current upward trend of Bitcoin – and how this leads to a massive correction downward movement.

That brought BTC to 12,500 dollars, a level that could reach the crypto-currency in the next session, and then again fall back.

The Team of strategists Jan Janssen:

“The price may reach the level of 12,500, then we expect a rapid price decline in the impulse wave of the oldest-correction model”

And:

“We recommend that you check the levels on a short sale and not to forget, in the medium term further growth.”

Anatomy of a analysis

In retrospect, the “oldest correction model”, on the Quntuam relates, is in an ascending channel pattern is signalled to suggest, like the one below shared Chart.

Bitcoin and Ethereum is a risk of a correction, while you are trading within a bearish continuation pattern. Source: TradingView.com

The image represents both Bitcoin as well as Ethereum, which is to pursue a downward trend.

Before you have the formed ascending channel pattern, they were on the decline. Its technical description indicates two different results: inversion or extension.

This means that Bitcoin could either have a rest again to negate the Downward-continuation of trend, or continue to lower levels, aiming to reinforce its downward orientation.

Quantum believes that it will come to the Latter. The graph above predicts that Bitcoin will rise in the direction of $12.500 or even for $17,000, but eventually its profits could give up to test the lower trend line of the ascending channel.

Should this happen, the price will fall in the direction of the “D” marked level is under 5,000 $.

The Quantum Team writes:

“We believe that the medium-term dynamics of the ETH and BTC prices will be in the next 2-4 months for many people, a great disappointment”

The company has also confirmed that they liquidated their stocks already for USDT on the current price level:

“Currently, more than 60% of the volume have been sold at current prices. […] The remaining volume is carried out after confirmation of the medium-term bearish pattern, or logarithmic levels: for ETHUSD 470-730; for BTC 12500-17300.“

About the author

Eve Manning

Eve Manning

A native Texan, Eve first started out as a Finance Analyst and later realized that her true passion was not in trading but in writing. She leverages her experience in the Finance industry to analyse and write in-depth news articles covering the Cryptocurrencies, Economy & Finance industries.

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