Amid the recent Bitcoin (BTC) price rally, cryptocurrency analyst CryptoCon has shed his optimism about the price action of the crypto asset while highlighting a bold prediction.
Bitcoin To Experience Pullback Beforehand
On Tuesday, December 26, CryptoCon took to X (formerly Twitter) to share his latest projections on Bitcoin. According to the analyst, the price of BTC will reach the $130,000 mark, but it might undergo a correction beforehand.
In the X post, CryptoCon reiterated his opinion that, many weeks ago, Bitcoin peaked at roughly $45,000. He further highlighted that the LMACD includes another layer with a cross of the “Descending Cycle Mid-Top Trend.”
He suggests that Bitcoin is about to experience a “significant pullback.” The analyst highlighted that the “correction ranges from 38% to 52%” from its peak of around $45,000.
In addition, CryptoCon predicts that a period of correction lasting “up to five to six months” will follow the correction. He added that the
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