Search results for Bob Loukas
Crypto
Bitcoin faces watershed in next 45 days as eyes turn to U.S. FOMC
Bitcoin needs to confirm entry into a new upcycle within the next 30 to 45 days, an analysis said. Market analyst Bob Loukas said the cryptocurrency has built a base after a long period of sideways trading and is at a turning point for its medium-term direction. He set $79,600 as a key closing support over the next 45 days and flagged the late-October to early-December window, the U.S. FOMC meeting and a $12 billion options expiry as near-term variables.
Crypto
Veteran trader says bitcoin is not dead, just a bear market that will pass
Veteran trader Bob Loukas says bitcoin\'s sharp drop and large-scale leveraged liquidations do not mean the market has collapsed. He calls the recent selling a natural late-stage shakeout within a four-year cycle and says fear around bitcoin and crypto is normal in a bear market. He criticises short-term profit narratives spread on social media. Markets have seen heavy liquidation pressure, while worries around Strategy and its financing are also cited.
Crypto
No bitcoin summer bull market, analyst sees 3 to 5 months of sideways trade
Market talk is resurfacing that bitcoin is less likely to rebound this summer. Veteran trader Peter Brandt cites a chart for ProShares UltraShort Bitcoin ETF SBIT, which bets on bitcoin declines, as suggesting further downside pressure if a technical reversal pattern plays out. Another analyst, Bob Loukas, says the market remains in a bearish phase and may need 3 to 5 months of choppy sideways trading to build a base for the next cycle.
