For Carl “The Moon”, bitcoin breaking the resistance at $ 49,000 is a critical situation. The trader would take profits from USD 100,000 through a dollar-cost average exit.
The specialist, known by almost half a million people on Twitter, sustained a conversation, days ago, with the Argentine educator Catalina Castro, who leads the YouTube Tech channel with Catalina.
The specialist said that seeing bitcoin (BTC) between USD 200 and USD 500 would be feasible in the next nine months, and USD 700 would be less feasible, but possible as well. This explanation is what the trader and technical analyst Carl “The Moon” Runefelt recently gave on future prices.
The professional trader revealed his analysis on the price of bitcoin in the short, medium, and long term. According to Carl, for at least nine more months, the price would continue an upward stage of the current cycle and then enter a market with a downward trend.
“People in the market contemplate the $ 200,000 or $ 300,000 level for the upcoming 8 or 9 months,” says Runefelt. On the long-awaited figure of USD 1 million per BTC, Carl “The Moon” considers it is a situation that will eventually happen, although, as he says, that the question is whether it will happen in the upcoming months or not.
On August 21, the analysis of the Argentine lawyer Carlos Maslatón came to light. According to him, bitcoin will reach $ 1 million, but it will not do it that soon, nor will it linearly reach that point.
According to the lawyer’s forecast, users would have to wait until 2025 to see the price of BTC at that figure. Maslatón sympathized with Runefelt and believes that in 2022, the cryptocurrency could reach new high prices near the USD 500.000.
USD 30.000 and USD 49.000 are both barriers to Consider for Bitcoin
Regarding the price of bitcoin in the short term, Carl «The Moon» highlighted there would be a strong support point at USD 30.000. Once the price of the crypto asset ranks below that amount, a new and prolonged bearish period could start, thus nullifying all the previous predictions.
Instead, if bitcoin forcefully breaks through the $ 49k resistance, the uptrend would consolidate, and the predictions would continue to apply. Each BTC is trading at $ 48,270. Days ago, it surpassed USD 50.000 but crumbled down shortly after.
A Right Time to Sell the Bitcoins
Carl “The Moon” Runefelt talks about selling a certain percentage of the bitcoins periodically as the bull cycle progresses. Carl would start doing it from the moment each BTC goes trading at $ 100,000.
Carl would sell half bitcoin every week or every two weeks for a certain number of weeks to achieve an average starting price. The good thing about this plan is that Carl knows that he will sell at the highest peak, but not everything since the sale will be progressively at different points.
By: Jenson Nuñez
