- A crypto strategist who correctly predicted the collapse in the digital asset markets this year, Bitcoin (BTC), Ethereum (ETH) and claims that rallies are imminent for a popular altcoin.
As we reported on Koinfinans.com, the analyst, using the alias Capo, tells his 503,000 Twitter followers that Bitcoin now appears poised for a breakout rally, as the king cryptocurrency has shown a crossover resistance on the lower timeframe.
“The main downtrend line has been broken.” A break of the $20,700-$20,800 resistance level will be bullish confirmation for a short position squeeze. Following this, we should see the $22,500-23,000 levels. If you break $19,500 to invalidate the idea of short-term compression, the main confirmation would be a clean break of $19,000.”
At the time of writing, Bitcoin is changing hands at $19,815 with a steady price action throughout the day.
Ethereum (ETH)
Next on the analyst’s list, Capo says it presents a good opportunity for short-term traders at the moment. Ethereum (ETH) exists.
“I longed ETH, fine [risk/ödül] has rate. Target price: $1,800.”
Looking at Capo’s chart, Ethereum is likely to experience a sharp correction near $1,300 after hitting its target. At the time of writing, ETH is stable on the day and is at $1,558.
Cardano (ADA)
The crypto strategist is also taking a close look at Cardano, another smart contract protocol. According to Capo, ADA broke the diagonal resistance and it seems to be moving towards its target price of $0.52.
“It moves nicely.”
While Capo is bullish on Cardano in the short term, the analyst’s chart shows that he expects ADA to witness a deep pullback around $0.30 once its target price is reached.
At the time of writing, Cardano is trading at $0.47, up over 4% on the day.
You can follow the current price action here.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.