Analyst charts BTC/USD outlook after rejection at $25K

• Crypto Kaleo does not believe Bitcoin will capitulate below $20,000.
• However, he believes BTC is retesting support levels below current prices before making new highs.
• New Momentum Could Push BTC/USD Above $28,000 Despite Bears, Analysts Say.

Bitcoin breaks below $24,000 and may retest support levels below that buffer zone before finding new upward momentum, including a bullish retest above $28,000.

However, popular analyst Crypto Kaleo believes that the Bitcoin market will not see another capitulation in the coming weeks, pushing the price below $20,000.

Analysts agree his predictions for a continuation of the rally this week may have been “enthusiastic” he said Bitt was on the rise as risk assets pushed higher after recent U.S. inflation data. It had suggested that the coin’s price could rise to $25,000 – in the week as it remains bullish and could provide fresh impetus to a higher target that sees a drop.

Bitcoin was rejected at $25,000, but

In fact, Bitcoin rose to a price above $25,000 on Sunday before capping some gains on Monday. It is down about 1.3% over time.

He Tweet:

“On Friday, I went wild in hopes of a run of $28,000 over the weekend and into the beginning of the week. Admit if I’m wrong, surrender to new lows and I doubt he’ll go below $20,000, but a little lower before going a little higher.

Further commenting on the outlook and his opinion on where Bitcoin’s price will go next, Kaleo said the rejection at $25,000 (the level of the May 2022 crash) was a retest at a lower level. added that it opens This includes a drop from mid-June to the high end of his July range.

his chart share The tweet below demonstrates this:

Had to do the previous chart on a daily basis – not sure why I had a 12 hour candle when I shared lol, but outside of the pure s/r levels above – yesterday’s candle is disgusting and usually shows the local top…and today it doesn’t look much better. pic.twitter.com/qwhMhpiNrx

Kaleo (@CryptoKaleo) August 15, 2022

Bitcoin’s rally last weekend pushed BTC to its highest price level in two months and continues to see the flagship cryptocurrency break above the all-important $20,000 line.

While the region is important for bulls, bitcoin skeptic Peter Schiff warns that it may be unsustainable as it could fall below $10,000.

He voiced his opinion via a tweet on Sunday:

just put #bitcoin Look at this chart. The pattern remains very bearish. There are double tops and head and shoulder tops. A rising wedge is forming below the neckline. The lowest support is tested below $10,000. See below! pic.twitter.com/OHNhwsgxxs

Peter Schiff (@PeterSchiff) August 14, 2022