Top Bitcoin Analyst Maps Out BTC’s Potential Correction with This Strategy

Bitcoin has been on a wild ride this week, plunging from its all-time high of $73,000 down to around $65,000 before bouncing back today to trade around $68,000. Amidst the volatility, one of the most popular crypto analysts, Ali, has updated his outlook on Bitcoin with some key insights.

In a recent tweet, Ali believes that market makers may try to trap liquidity between the $50,000 to $49,000 range before Bitcoin sees higher highs again. He points out that we can’t underestimate the strong buying pressure from Bitcoin ETFs that has been seen lately, which could fuel the next leg up.

However, Ali isn’t getting carried away with bullish euphoria just yet. He has a plan in place for Bitcoin’s first major 30% correction of this bull cycle. His dollar-cost averaging (DCA) strategy lays out specific Bitcoin buy levels starting from $65,130 down to $50,130 in incremental stages.

At the $65,130 to $62,130 range, Ali plans to buy 0.5 BTC at each price point. From $61,130 to $58,130, he will purchase 0.65 BTC at each level. The buy amounts increase to 0.8 BTC between $57,130 and $54,130, and finally 0.95 BTC for each price point from $53,130 down to $50,130.

Ali’s DCA approach allows him to methodically accumulate more Bitcoin at lower price levels, while keeping some dry powder in case the correction deepens further. His strategy reflects a balanced outlook – remaining bullish long-term by holding existing positions, but pragmatic enough to brace for volatility.

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The analyst’s tweet serves as a reminder that even as Bitcoin continues making phenomenal gains, the asset’s signature turbulence is still very much in play. Smart money stays disciplined and has a game plan for both upside and downside scenarios.

Bitcoin’s whipsawing price action this week underscores just how crucial risk management is, especially at the current elevated levels. As the markets digest the recent sell-off and eye the next potential resistance, analysts like Ali are already mapping out their strategies for all eventualities.

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Vignesh Karunanidhi
Vignesh Karunanidhi

Seasoned crypto writer with deep passion for blockchain and cryptocurrency

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