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⛓️ Crypto🔴 BearishActionable

Bob Loukas Calls Bitcoin 'Horrendous' on Weekly Chart, Sets $49,000 Target

U.Today|Gamza Khanzadaev||1 views
🤖AI Summary

Veteran analyst Bob Loukas has issued a bearish Bitcoin outlook, calling the cryptocurrency 'horrendous' on weekly charts and setting a price target below $49,000. Despite acknowledging that Bitcoin is already 'deeply oversold,' Loukas maintains his negative stance on the asset's near-term prospects.

Key Takeaways
  • →Bob Loukas describes Bitcoin as 'horrendous' when analyzing weekly price charts.
  • →The veteran analyst has set a price target below $49,000 for Bitcoin.
  • →Loukas acknowledges that Bitcoin is already in 'deeply oversold' territory.
  • →The analyst is renewing his bearish Bitcoin price outlook despite oversold conditions.
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