# Crypto: Bitcoin Bottom in Sight After 6 Weeks in Red 

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Last modified: 2022-05-12

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By Paul Ebeling · 2022-05-12
Tags: Luxury, Lifestyle, Paul Ebeling, Bitcoin, Crypto, crypto, Bitcoin, Knightsbridge Insights, Living, Knightsbridge, bit
Signed: no (published before platform launch).
Nothing in this article is investment advice.

#crypto #bitcoin

$BTCUSD

*"After 6 wks running in the Red, a popular crypto strategist says that the end of Bitcoin’s correction is now on the horizon*"-- Paul Ebeling

Pseudonymous crypto analyst Kaleo tells his 486,100 Twitter followers that he does not believe Bitcoin’s downtrend will end at $30,000.

*“So what happens next? They’re going to get you used to $30,000 like they got you used to $40,000. They’ll sell you on dreams of $40,000 like you were sold on dreams of $50,000. We’ll probably have a bounce that gets close… Capitulation will be out in full force. Bitcoin will once again be declared dead.”*

In Late April, when Bitcoin was still trading above $40,000, Kaleo predicted that bears will push the top digital asset all the way down to $28,000. Over a month later, the crypto strategist says his roadmap is still valid.

As Bitcoin is now trading close to his downside target, Kaleo predicts that BTC will establish a bottom in the coming days.

*“We’ve had six weekly red candles in a row. This week will be number seven. Seven is a number of completion. Bottom will be in this week. If I had to guess $28,000/$29,000.”*

At time of writing, Bitcoin is changing hands for $26,965.80

[For live price action click here](http://crypto.livetradingnews.com/en)

Have a prosperous day, Keep the Faith!

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