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A popular crypto analyst claims that Bitcoin (Bitcoin) and Ethereum (ethereum) could take advantage of recent momentum to move higher.
A pseudonymous crypto trader known as Altcoin Sherpa has told his 182,800 Twitter followers that if Bitcoin hits $21,700, it could rise another 8% soon.
The squeeze has come. $21,000 hit. If bought yesterday/last few days, I think it’s best to take profit. [chart]If this goes further, I like the $23,000 area (and $21,700 to start with).
BTC is trading at $21,300 at the time of writing. The top-ranked crypto assets by market capitalization are up more than 10% in the last 24 hours.
Still, Altcoin Sherpa does not believe BTC will achieve double-digit profits, encourage Traders avoid being overly bullish.
“Play this level by level. Don’t expect more than 10% moves across the board. Take advantage and be patient. I doubt this is the bottom of the overall macro.”
Looking at Ethereum for Analysts I think ETH seems to be better than Bitcoin.
I think this has formed a decent bottom and the market structure on the lower timeframes still looks bullish. There is a possibility.”
$2,500 represents an increase of over 45% when ETH is trading at $1,716 at the time of writing. The second largest crypto asset by market capitalization is up more than 5% in the last 24 hours.
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Featured Image: Shutterstock/Bruce Rolff
