Joao Wedson, the founder of Alphractal, shared his assessment of current Bitcoin prices and future expectations for investors.
Bitcoin's Rise and Its Causes
Wedson noted that Bitcoin has increased by $10,000 after the re-accumulation schemes over the past ten days, now trading around $109,000.
Forecasts and Recommendations for Investors
Regarding their forecasts, Wedson stated that their short-term target is $113,000 due to high liquidity concentration at this level. However, he warned investors that now is not the time to enter new long positions, asserting: 'The opportunity has passed. Now is the time to manage risk or catch strong jumps in some altcoins.'
Expectations for the Coming Months
Wedson described June 22 as a 'bear trap,' expecting a bull trap to occur followed by a new bear trap in the near future. He predicts that after these fluctuations, there could be a final upward movement until the beginning of September, followed by a prolonged horizontal market.
Wedson's analysis provides valuable insights for investors, emphasizing the need for a cautious approach in the current market.
