Bitcoin Price Prediction as Millionaire Trader Says BTC Will Fall to $40,000 Level – Here’s Why

June 09, 2024

Bitcoin is currently trading at $69,300, showing a modest increase of less than 0.10%. However, a recent tweet from millionaire trader Zoran Kole (@Captain_Kole1) has stirred the market. Traders are closely monitoring these levels, as Kole’s prediction adds a layer of uncertainty to Bitcoin price prediction.

Millionaire Trader Says BTC Will Fall to $40,000 Level

Millionaire trader Zoran Kole, known on Twitter as @Captain_Kole1, posted a cryptic tweet mentioning “$44,444,” referencing Bitcoin’s yearly opening price.

His terse apology, “I’m sorry,” suggests a bearish outlook, implying that Bitcoin might revisit or fall below this level. This tweet has sparked concern among investors and traders, as it hints at a potential significant price drop from its current trading levels around $69,300.

Kole’s prediction adds to the uncertainty in the market, prompting closer scrutiny of Bitcoin’s support and resistance levels amidst broader market conditions.

Bitcoin Price Prediction

Bitcoin is currently trading at $69,300, showing a modest increase of less than 0.10%. The pivotal support level is at $68,700, where an upward trendline suggests a potential bullish reversal, and it’s keeping Bitcoin price prediction bullish.

However, Bitcoin faces immediate resistance at $69,600 and $69,750, with further resistance at $70,650. The 50-day Exponential Moving Average (EMA), positioned at $69,600, is a critical level that Bitcoin needs to surpass to confirm a bullish trend.

In conclusion, the current outlook suggests selling below $69,700 and buying above $68,700, contingent on price movements around these critical levels.