Chinese Analyst Says, "I Have One Good and One Bad News for Bitcoin," Warned for Next Week!

The famous Chinese crypto currency analyst Willy Woo shared his latest assessments of the market on social media. Woo pointed out both positive and potential negative developments for investors.

In his statement about Bitcoin, Woo said, "I have some good news for you and maybe some bad news as well." Evaluating the overall liquidity situation of the market, the analyst gave optimistic messages regarding the long-term outlook. Woo stated, "The risk signal is in a downtrend, which indicates that buying-oriented liquidity is dominant in the overall market environment. A foundation is being laid for a new strong bull run over the long term."

However, Woo, who also pointed out signs of weakening in the strength of the rise, said, "The strength of the bull run from 75 thousand dollars to 112 thousand dollars has started to break down," adopting a cautious approach.

Woo emphasized that the upcoming week is critical in terms of the market, stating, "If the expected momentum does not come this week, we may face another consolidation period." The analyst also touched on short-term risks, noting that late-joining speculators opening long positions could create pressure on prices along with profit-taking. Woo mentioned that SOPR data indicates high potential profit realizations.