It has been just revealed the fact that Bitcoin and Ethereum are seeing some pretty exciting new price predictions. Check out the latest reports about the most important digital assets below.
BTC and ETH price predictions
A well-known crypto strategist has recently expressed his bullish stance on Bitcoin (BTC) after it fell below the $28,000 level. The pseudonymous analyst, who goes by the name Credible Crypto, has a large following of 346,700 users on the social media platform X.
According to him, BTC is likely to reverse its downtrend after finding support at a key level.
He further added that once the equal lows at $27,100 are taken, it would be unwise to sell or short BTC. In his opinion, any trades under $27,000 should be longs since the high time frame is bullish above $24,800.
According to the trader, Bitcoin may drop below the crucial $27,000 level before rising again. He believes that the minimum target is $27,100, and there is a high likelihood of testing the mid-range at $26,700.
Looking at the bigger picture, there is a lot of liquidity available below us after taking liquidity above with a lot of rejection wicks to the upside.
Furthermore, open interest (OI) has peaked and reached levels that have indicated a local top in the last five instances. In my opinion, the direction we’re heading is clear. The actual question is how low we’ll go.
However, we should remember that the bullish trend is still present on a high timeframe, and we shouldn’t expect $24,800 to be breached. If the mid-range holds, the bottom could arrive “early.”
Otherwise, we may experience a quick drop below $26,000 (but above $24,800), presenting an excellent low-risk, high-reward opportunity once more.
BTC is trading for $26,441 at time of writing.
According to a trader, the Ethereum (ETH) against Bitcoin is likely to go down even further in the near term before a trend reversal.
The trader had previously predicted a 50% drop on the pairing and currently, ETH/BTC is down by almost 30% since then.
Although some are hopeful that the current levels may serve as the higher low/bottom on the pairing, the trader believes that BTC’s largest upside moves are yet to come, hence, they predict that ETH/BTC will go much lower.
Despite the present downward trend, the trader is optimistic and believes that there will be a mega melt-up after this bleed-down.
They predict that there will be a significant rise in BTC and an even bigger rise in ETH and other alts soon after. The trader advises people not to fear this change but rather to embrace it and enjoy the ride.
