Here’s How Retail FOMO Could Return to Flood Bitcoin, According to Crypto Strategist

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A closely-watched analyst says fear of missing out (FOMO) could push a wave of retail traders back to Bitcoin (BTC).

The pseudonymous trader known as Inmortal tells his 194,900 Twitter followers that BTC has been consolidating below the $30,000 price level for so long that a break above the psychological zone could be massive for the king of crypto.

350 days below $30,000 and above.

I don’t know when, but I know that this breakout of $30,000 will trigger retail FOMO.

Source: Immortal/Twitter

According to the trader, BTC is currently trading in a range between $25,600 and $28,400, with potential entry points for bulls sitting at the bottom.

Inmortal says Ethereum (ETH) is doing something similar to BTC, consolidating below the psychological $2,000 level for a long time. According to a chart shared by the crypto strategist, ETH could briefly break above $2,000 to correct down to $1,500.

The structure of ETH is so beautiful.

> Cumulative 386 days below $2,000 > Consecutive macro lows

(Give me another $1500 test please)

Source: Immortal/Twitter

Looking at other altcoins, Inmortal says Ethereum rival Solana (SOL) looks set to rebound from its bear market and outperform Bitcoin in the next market surge.

The popular trader says he has been on SOL for a long time as he believes the crypto asset has managed to reclaim its trading range for the year.

Bought more SOL spot here.

1. Price is back in the range of 20232. Price is back in the range of 20233. Price is back in the range of 2023.

Source: Inmortal/TwitterDon’t Miss a Beat Subscribe to receive crypto email alerts straight to your inbox Check the price action Follow us on Twitter, Facebook and Telegram Surf to The Daily Hodl Mix Check the latest news headlines 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.

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