A popular analyst is digging into the charts to set price targets for six crypto assets as the markets try to end the week on a bright note.
Pseudonymous crypto trader Altcoin Sherpa tells his 180,100 Twitter followers he’s looking at the 200-day exponential moving average (EMA) for Bitcoin (BTC) on four-hour candles to plot out both short-term highs and lows.
The crypto strategist also says that while Bitcoin has managed to establish a near-term range, he does not believe that the bear market bottom is in for BTC.
“I think that the top of range makes sense at this point, eyeing $21,600 and $22,000 as of now.
Still doubtful this is the macro bottom but it’s a very strong tradeable event. Taking profits higher where the 200 EMA four-hour is.”
Bitcoin is currently up by 1.5% over the last 24 hours, changing hands for $20,693.
Moving on to leading smart contract platform Ethereum (ETH), Altcoin Sherpa again utilizes the 200-day EMA metric to establish a price fluctuation zone of $1,013...
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