A figure who has often drawn skepticism and surprise for his accurate predictions, particularly during October’s crypto rally, is once again in the spotlight as the market takes a downturn. This analyst, known for his contrarian views, anticipated a significant drop, forecasting Bitcoin to slip below the $100,000 mark. After recent events confirmed this, he shared new insights into the market trends.
Roman Trading’s Bold Forecasts
Under the alias Roman Trading, the analyst has captured attention with his precise forecasts amid the last two quarters of the year. During October’s ascendancy, he consistently pointed to disruptions in Bitcoin’s enduring trajectory, predicting an upcoming fall, which validated his projections once again.
Roman Trading recently presented new data, indicating that the crypto decline is set to continue. His analysis highlights disruptions in the HTF or high time frame, assessing weekly and monthly charts, with geopolitical tensions between China and the USA further influencing the market’s direction.
“BTC H4 update: Almost reached the wick! I still think it will drop further, with the next significant support around 98,000. If an opportunity arises, I will look for short-term long positions there. For now, HTF remains quite bearish, so I think it will decline further over time.”
What Lies Ahead for Ethereum?
As investors face diminishing weekend volumes, they brace for potential turbulence amid significant forthcoming events. Although discussions with China, as mentioned by Trump, have not escalated tensions, upcoming announcements could sway market sentiment. Should the government shutdown conclude by next week, key inflation indicators will surface, potentially altering market dynamics.
November 1 remains crucial as anticipations suggest potential retaliatory tariffs against China. These developments keep the market on its toes. But, the pressing question remains: how far could Ethereum decline in this volatile environment?
“Ethereum is retreating to a vital area here. The price is testing the weekly 20 EMA – perfectly aligned with horizontal support and the 0.382 Fib. This region either holds, pushing the price back up, or we start watching for the next drop towards 0.618. It’s a decision time for ETH.”
Concrete insights drawn from recent trends include:
- Bitcoin is expected to find support at around $98,000.
- Ethereum’s immediate future will be determined by its response to the weekly 20 EMA.
- Upcoming economic reports and geopolitical tensions are likely to steer investor sentiment heavily.
The crypto market often tests its participants’ resilience, and the present scenario is no different. With critical support levels looming and significant decisions approaching, stakeholders are poised for a pivotal period in crypto trading.
