Cryptocurrency trader Josh Rager believes that Bitcoin (BTC) could soon witness a pullback after rallying by more than 44 percent in 2020. In a new tweet, he explains that random direct messages and e-mails about buying crypto are reminiscent of previous market tops.
I'm getting random DMs and emails about buying altcoins and Bitcoin right now— Josh Rager 📈 (@Josh_Rager) February 12, 2020
The last time I got this many DMs was over $13k at the top
It's typically a clear indicator for me that it's getting close for a pullback after two months of green
I'm securing gains/taking profits
Another ominous sign could be some low-cap cryptocurrencies rallying by up to 800 percent. Greedy investors are once again willing to speculate on obscure altcoins they haven't touched since the previous bull run.
There is still a chance that the current rally will have legs. As reported by U.Today, the number of deposits to exchanges remains unchanged whilst market tops are usually marked by strong upticks.
Meanwhile, trader DonAlt has just posted a tweet where he predicts a drop back to the $7,500 level.
Given how accurate he was with his previous call, his chart could definitely send shivers down the spine of even the most stalwart Bitcoin bull.