A popular crypto analyst thinks both Bitcoin (BTC) and Ethereum (ETH) could capitalize on their recent momentum and move even higher.
The pseudonymous crypto trader known as Altcoin Sherpa tells his 182,800 Twitter followers that Bitcoin could soon surge by another 8% if it reaches $21,700.
“Squeeze came. $21,000ish hit. I think it’s best to take profit if you bought yesterday/last few days. this is an area of resistance and 200 exponential moving average on the 4-hour [chart]. If this goes higher, I like the $23,000 area (and $21,700 first).”
BTC is trading at $21,300 at time of writing. The top-ranked crypto asset by market cap is up more than 10% in the past 24 hours.
Still, Altcoin Sherpa doesn’t think BTC will witness double-digit gains and encourages traders to avoid becoming overly bullish.
“Play this level to level. Don’t expect 10%+ moves overall. Take profits and be patient. I doubt this is the overall macro bottom.”
Looking at Ethereum, the analyst thinks ETH is looking...
Your content is great. However, if any of the content contained herein violates any rights of yours, including those of copyright, please contact us immediately by e-mail at media[@]kissrpr.com.
INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...