There are new crypto predictions out following the market recovery that’s taken place over the weekend. Check out the latest reports below.
New BTC and ETH predictions are out
There is a popular analyst who addressed the charts to set price targets for six cryptos as the markets try to end the week on a bright note.
It’s been just revealed that the pseudonymous crypto trader Altcoin Sherpa said recently that he is addressing the 200-day exponential moving average (EMA) for Bitcoin (BTC) on four-hour candles to plot out both short-term highs and lows.
He also explained the fact that while Bitcoin has managed to establish a near-term range, he does not believe that the bear market bottom is in for BTC.
“I think that the top of range makes sense at this point, eyeing $21,600 and $22,000 as of now.”
He also said the following:
“Still doubtful this is the macro bottom but it’s a very strong tradeable event. Taking profits higher where the 200 EMA four-hour is.”
He also said this about Ethereum:
“Idea – [ETH] goes to the highs/hits resistance at 200 EMA four-hour and then back to the lows. Could even go as low as $850 before springing higher. NOT the bottom yet though [in my opinion].”
At the moment of writing this article, BTC and ETH are both trading in the green. BTC is currently priced at $20,800, and ETH is priced at $1,232.
Bitcoin’s recent rise is a dead cat bounce
According to Capo, Bitcoin’s recent rise above $20,000 was a “dead cat bounce.”
This was met by selling on the FTX crypto exchange. A dead cat bounce is a move to the upside in a bearish trend.
“Dead cat bounce to $20,000 again to punish late shorters. At the top of it, FTX started pushing down. Clear corrective move to the upside. Nothing has changed. Break below $19,000 = new lows.”