A prominent crypto analyst thinks that both Bitcoin (BTC) and Ethereum (ETH) could sustain their recent momentum and move higher.
A fake crypto trader known as Altcoin Sherpa told his 182,800 Twitter followers that Bitcoin could rise 8% if it recently reached $21,700.
“Squeezing came. It reached $21,000. If you bought yesterday/last few days, I think it’s good to take profit. This is the resistance area and the 200 exponential moving average on the 4-hours.” [chart]. If this goes up, I like around $23,000 (and originally $21,700).”
BTC is trading at $21,300 at the time of writing. The top-tier crypto asset has risen more than 10% in market value in the last 24 hours.
Still, Altcoin Sherpa does not think that BTC will witness a double-digit profit It encourages. Traders should not be overly aggressive.
“Play this level by level. Don’t expect 10%+ moves in general. Take profits and be patient. I doubt this is the bottom of the whole macro.”
Looking at the analyst Ethereum He thinks ETH looks better than Bitcoin.
I think this formed a good bottom and the market structure on the lower time frames still looks broken. If the highs are cleared (watch out for a double high in the short term) $2,500 could come.
With ETH trading at $1,716 at the time of writing, $2,500 represents an increase of over 45%. The second largest crypto asset by market cap is up more than 5% in the last 24 hours.
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