[ad_1]
A closely-watched crypto strategist unveils a bullish outlook for Bitcoin now that BTC is trading above $20,000.
Pseudonymous analyst Cheds tells his 297,300 Twitter followers that a big rally could be in the cards for Bitcoin, with BTC poised to print a bullish reversal pattern.
“Above $18,200 opens up the possibility of an inverted head and shoulders, multiple shoulders (or wide left) and head with base of the neck complex at $25,500.”
Source: Cheds/Twitter
Looking at the trader’s chart, he predicts that Bitcoin could climb as high as $37,000 if it clears resistance at $25,500, suggesting more than 75% upside potential for the crypto king from current prices.
Cheds also says that the fear of missing something could cause traders to chase Bitcoin rallies. The crypto analyst adds that Bitcoin managed to close above the 200-day moving average, which he says is a sign of notable strength.
“Legit surprised by force [of] BTC.
You have to respect the pump.
As for altcoins, Cheds believes digital assets other than Bitcoin will eventually follow BTC’s explosive price action once the crypto king cools.
“If BTC and ETH stop consolidating, altcoins should make a lot of noise.”
At the time of writing, Bitcoin is changing hands for $21,137, up nearly 2% in the past 24 hours.
Don’t miss a beat Subscribe to receive crypto email alerts straight to your inbox Check price action Follow us on Twitter, Facebook and Telegram Surf The Daily Hodl Mix Check the latest headlines Disclaimer: Opinions expressed on The Daily Hodl are not investment advice. Investors should do their due diligence before making high-risk investments in Bitcoin, cryptocurrency or digital assets. Please note that your transfers and transactions are at your own risk and any loss you may incur is your responsibility. The Daily Hodl does not recommend the buying or selling of cryptocurrencies or digital assets, nor is The Daily Hodl an investment adviser. Please note that The Daily Hodl engages in affiliate marketing.
Featured Image: Shutterstock/NextMarsMedia
|
Sources 2/ https://news.google.com/__i/rss/rd/articles/CBMiemh0dHBzOi8vZGFpbHlob2RsLmNvbS8yMDIzLzAxLzE2L3RvcC1hbmFseXN0LXNheXMtYml0Y29pbi1zdXJnZS1jb3VsZC1iZS1zdGFydC1vZi1tYXNzaXZlLXJhbGx5LWhlcmVzLWhvdy1oaWdoLWJ0Yy1tYXktZ28v0gF-aHR0cHM6Ly9kYWlseWhvZGwuY29tLzIwMjMvMDEvMTYvdG9wLWFuYWx5c3Qtc2F5cy1iaXRjb2luLXN1cmdlLWNvdWxkLWJlLXN0YXJ0LW9mLW1hc3NpdmUtcmFsbHktaGVyZXMtaG93LWhpZ2gtYnRjLW1heS1nby9hbXAv?oc=5 The mention sources can contact us to remove/changing this article |
[ad_2]