Bitcoin (BTC) Predicted to Reach $40,000 After Pullback: Dip Buy Now!

• Analyst Pentoshi predicts Bitcoin (BTC) to reach a 2023 high of $40,000 after pullback to $28,000.
• Trader suggests dip buying on pullbacks to gain net long position and see if the trend remains up.
• At time of writing, Bitcoin is trading for $30,354.

Strong Surge Predicted for Bitcoin (BTC)

Pseudonymous analyst Pentoshi is predicting a big rally for Bitcoin (BTC), with the crypto king expected to reach a fresh 2023 high of $40,000 after falling back into the range it spent two weeks in at around $28,000. The trader also suggests that dip buying during this pullback can be used as a way to gain net long position and see if the trend remains up.

Current Price Action

At time of writing, Bitcoin is trading for $30,354.

Dip Buying Strategy

The trader suggests that dip buying on pullbacks towards $28,000 will allow investors “to compound” and potentially benefit from mean reversion as emotions remain high and people capitulating during this period. In addition, this strategy can also serve as an invalidation point should the market move against expectations.

Risk Warning

Investors are warned that transfers and trades are done at their own risk and any loses incurred are their responsibility. It is advised that investors do their due diligence before making any high-risk investments in cryptocurrencies or digital assets.

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