A top crypto strategist and trader is bullish on both Ethereum and Bitcoin as he sees the two largest crypto assets igniting rallies in the coming days.
In a new strategy session, the trader known in the industry as Cred predicts that Ethereum will break its resistance at $4,000 en route to a new all-time high.
“At the minimum, I would think that if we start breaking resistances and head up, that we go to $4,400. Maybe it just goes to $4,600, $4,800 [and] $5,000.”
While Cred is bullish on Ethereum, he concedes that the leading smart contract platform could correct after hitting his targets.
As for Bitcoin, Cred says the king crypto is gearing up for strong surges while predicting that traders will turn bearish each time BTC completes a leg up.
“It starts looking like we have a double top here, and that’s probably not going to hold because these double tops rarely hold unless the S&P [500] just mega dumps. Maybe you get like sideways consolidation into another move up. And then people would be like, ‘Yeah, this was the second leg of the move. So that’s done.’ But then you have a double top here ($52,000). That’s really close to each other. It doesn’t make much sense to not break that. So you do another third push.
If that’s one week, maybe we go down a little bit more, but in general, this looks like it wants to go up to me.”
Cred says that as long as Bitcoin is above $44,000, it makes more sense to be bullish than be bearish on the leading cryptocurrency.
I
Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Charming Decor Art
The post Top Crypto Analyst Says Ethereum One Resistance Away From Potentially Hitting $5,000, Plots Bullish Price Path for Bitcoin appeared first on The Daily Hodl.
