Analyst who called decline after $100K predicts Bitcoin drop to $29,000
Bitcoin rebounds above $69k. Analyst maps crash path to $29k.
Bitcoin climbed back over $69,000. Trader LavaXBT warns of a fresh drop toward $29,000 as a “final bottom” zone. The bounce followed last week’s sell-off, with whales accumulating 10,000 BTC per Bitcoinist.
He sees two paths. He leans bearish. His “macro update” points first to $45,000, then to ~$29,000 on the downside chart. He cites thin volume and geopolitics as drags, with US–Iran tensions and risk sentiment weighing on markets NewsBTC, Bitcoinist, Bitcoinist.
He plans to short into strength. Levels are $73,000, $78,000, and possibly $80,000 X post. He calls the tape “unfriendly” for traders given low volume and choppy price action.
Altcoins could drop harder if BTC slides. He expects many to revisit 2022 crash levels or lower Bitcoinist, NewsBTC. He warns against random altcoin buys and waits for stronger BTC supports Bitcoinist.
Upside is still on the table. He says odds for a new ATH rise if price reclaims the swing high near $93,000 chart. A close above $120,000 would confirm trend strength, with a macro target near $160,000. He notes the current cycle ATH at $126,000 Bitcoinist.
- Downside supports $45,000 and $29,000 source
- Short zones $73,000, $78,000, $80,000 source
- Upside triggers $93,000 reclaim and $120,000 close source
- Macro target $160,000; cycle ATH $126,000 source
