• Reputed analyst remains adamant that crypto market is extremely bullish. 
• He expects a major break at $101,000 that will bring crypto into a full bear market. 
• The fall to 5-digit prices will be massive and quick.

The crypto market has slipped into a ‘Fear’ state at a score of 30 on the CMC Crypto Fear and Greed Index. Presently, the price of BTC is trading in the $110,000 price range as a reputed analyst remains adamant that crypto market is extremely bullish. The analyst is known for many accurate market and price predictions and goes on to reveal what to expect next in his weekly report. 

Reputed Analyst Remains Adamant That Crypto Market Is Bearish 

The analyst begins the report by highlighting his warning for a bearish market since August. He has been profiting off of short positions since this warning in August, and has been adding BTC short trades between the prices of $115,000 and $125,000. He also called $125,000 the top and concluded that markets remain extremely bearish due to a process of playing the bearish divergence forming since August. 

Next, he summarizes how the crypto market is driven by greed, although both the bear traders seem to be low on greed with bulls selling at good prices, and bears going euphoric on shorts at the moment. The analyst is currently a big supporter of the bearish case, but expects market makers to punish both sides of the market before making any important moves. At the moment, most bears may have begun to short too late. 

This would mean market makers could take advantage of the fact to manipulate the pump to wiper out bears who joined late. The analyst then debates the many price areas where large short liquidations could occur, and reveals what could be true and what is simply not. So, will the market makers allow retail and whales to exit at a better price after already making them lose? This, he doubts. 

He believes the max bullish scenario at the 116,500 region could occur once again if the market allows to visit, meaning an increase of 9% from where the price of Bitcoin is trading at the moment. If that happens, then the analyst is eager to open more short positions at this low high target as he is certain the price of BTC will continue to fall significantly over the next few weeks and possibly months. 

How Low Will BTC Go During This Extremely Bearish State?Lastly, the analyst completes his report by stating that it is very important to mention that by breaking below $101,700 Bitcoin (BTC) will break below its magic bull market line, which would finally confirm a bear market and silence all bulls. He finishes by advising patience, because the move to send BTC below this magic line will be massive and tells traders to prepare now before it is too late.

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