As you probably already noticed, the crypto market suffers a new correction today, with the most essential coins trading in the red.
Bitcoin is also trading in the red, and at the moment of writing this article, BTC is priced at $43,215.81.
Bitcoin new prediction is out
Crypto strategist and trader Scott Melker called Bitcoin trading a “game of inches.” It’s also worth noting the fact that he sees a bounce on the horizon for two altcoins.
Melker said that he expects Bitcoin to continue to surge to his target at $52,956.27.
“BTC trading can be a game of inches. The Walmart fake news almost caused my stop to be swept – missed by about $30. Now the price is up 10%, and I’m 10x leveraged on top Not bad.”
He also said the following:
“The charts are a meme. We all love the charts. They’re great for trading but at the very end of the day, Bitcoin is going to go up because [it’s a] deflationary asset in an inflationary world. There’s no reason to ever be bearish on Bitcoin long term.”
New altcoins predictions
Melker is also looking at other crypto assets, and one of them is Tron (TRX). He expects Tron to slightly pull back before taking out its immediate resistance at $0.11 and rallying to $0.18.
“What you want is to see some sort of flagging here ($0.09) and then up and buy it at this area ($0.11) and even off these highs ($0.12).”
The other coin that he is analyzing is VeChain (VET) – he said that the coin must breach its immediate resistance to ignite a surge above $0.27.
“I really want to be above $0.15 at this point… That’s such a key resistance… VET is such a huge project, real partnerships. It’s going to do exceptionally well.”
Stay tuned for more news and make sure to keep your eyes on the crypto market.