Widely followed crypto traders outline the future path of three major digital assets, including Bitcoin (BTC) and Ethereum (ETH).
Starting with BTC, the pseudonym crypto trader Capo To tell His 443,000 Twitter followers say that if their flagship digital assets fall below the $ 19,000 level, they will hit new lows.
According to Capo, Bitcoin’s recent rise of over $ 20,000 was a “dead cat bounce”, filled by sales on the FTX cryptocurrency exchange. Dead cat bounce is a move towards a rising bearish trend.
“Dead cat bounces back to $ 20,000 to punish the late shorter, and then FTX begins to push down. A clear upward fix move.
Nothing has changed. Below $ 19,000 = new lows. “
Bitcoin It is trading at $ 20,620 at the time of writing.
Capo To tell The bottom of Bitcoin, which formed about $ 30,000 in the middle of last year, reflects current price behavior. Cryptographic analysts are targeting a minimum BTC fee between $ 15,800 and $ 16,200.
“$ 30,000 Bottom Formation (June-July 2021) vs. Current Price Action
Deviations are expected to be below the current range of $ 17,700. The main goal remains at $ 15,800 to $ 16,200. “
Next is Ethereum (ETH).Cryptographic trader To tell A digital asset with the second largest market capitalization below $ 1,000 can cause a plunge of more than 30% from its current price.
Test the highest resistance ever and take corrective action. Bearish.
Clean break under $ 1,000 = $ 600- $ 700. “
Ethereum It is trading at $ 1,200 at the time of writing.
Capo concludes his analysis with Cardano (ADA), say it He is “very bearish” against the eighth largest crypto asset by market capitalization.
The support is broken and has been tested as a resistor. Very bearish. “
The sixth touch of support. It gets weaker and weaker.
Next support: $ 0.29 – $ 0.31. “
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