TL;DR
- Chris Burniske identifies entry levels between $80,000 and $50,000 after successfully predicting the cycle’s top.
- The $74,000 technical support stands out for aligning with MicroStrategy’s average purchase price.
- Analyst Aksel Kibar suggests the market is undergoing a “base building” phase above $73,700.
The crypto market is once again turning its attention to Chris Burniske, co-founder of Placeholder VC, following his recent predictive successes. The investor has now outlined a clear roadmap for those looking to buy Bitcoin on the dip amid the current price retracement.
Burniske, praised by figures like Anthony Pompliano for anticipating market tops, asserts that it is not yet the time to enter. However, he marked the $80,000 range as the first point of interest, coinciding with previous local lows of this cycle.
Below that level, he points to $74,000 as a vital support zone. This point not only represents a historical technical floor but also sits just below the average acquisition cost of institutional giants like MicroStrategy.
Structural Levels and the Base Building Phase
If selling pressure continues to intensify, Burniske points toward $58,000. This level is of utmost importance, as it converges with the 200-week simple moving average and “on-chain” average cost metrics that typically act as price magnets.
In a note of caution, the expert warns that falling below $50,000 would revive negative narratives about the “death of Bitcoin.” Nonetheless, he maintains a flexible stance, currently operating with Treasury bills while waiting for the ideal moment to buy Bitcoin on the dip.
On the other hand, technician Aksel Kibar offers a complementary view based on patience. His analysis suggests that Bitcoin is not necessarily in a collapse, but rather in a “basing” or base-building process between $73,700 and $76,500.
In summary, while Burniske prefers not to chase prices upward and instead diversify if bounces occur, investors are closely watching these levels. The key will be determining whether current supports hold or if the market will seek liquidity in much deeper zones.
