Bitcoin Likely To See Final Bullish Move Before a Strong Reversal Downwards, Says Analyst – Here Are His Targets
A widely followed crypto analyst says Bitcoin (BTC) may make an explosive move to the upside before a bearish reversal.
In a new post on the instant messaging app Telegram, pseudonymous crypto strategist Crypto Capo tells his 122,084 subscribers that Bitcoin may hit $98,000 before plummeting in value.
However, the analyst says as long as Bitcoin holds $88,000 as support, the flagship crypto asset will likely remain in an uptrend.
Looking at other digital assets, the analyst predicts that Ethereum (ETH) may increase 30% of its current value before correcting and that Solana (SOL) may increase 33% of its current value before correcting. He also believes other altcoins may double in value.
“As long as Bitcoin stays above $88,000 (ideally above $90,000), a final bullish move is likely before a strong reversal.
Some levels I’m watching to start taking profits:
- BTC: $95,000-$98,000.
- ETH: $2,000-$2,300.
- SOL: $170-$200.
- Altcoins: 30%-100% higher on average, depending on the coin.”
The analyst shares a chart that warns the flagship crypto asset may have a severe correction to $60,000 after first tapping $98,000.
“Shorting here makes no sense at all. I’ll be looking at the $94,000-$95,000 zone for potential shorts, but for now, the smart move is staying net long.”
Source: Crypto Capo/Telegram
Bitcoin is trading for $93,376 at time of writing, up marginally in the last 24 hours.
Meanwhile, at time of writing, ETH is trading for $1,759, down 1.8% in the last 24 hours, while Solana is trading for $150, flat on the day.
Follow us on X, Facebook and TelegramDon't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
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 losses 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.
Generated Image: Midjourney
The post Bitcoin Likely To See Final Bullish Move Before a Strong Reversal Downwards, Says Analyst – Here Are His Targets appeared first on The Daily Hodl.