It seems that there are new exciting predictions about the prices of Bitcoin and Ethereum these days. Check out the latest reports below.
Bitcoin and Ethereum new predicitons are out
Regarding Bitcoin (BTC), it’s been revealed that the pseudonymous crypto trader Rekt Capital has recently told his followers that the king crypto’s dominance levels are set to make a move to the upside, adding that as BTC gets stronger, altcoins get weaker.
“BTC Dominance is successfully retesting the blue level as support.
So far, BTC Dominance is positioning itself well for upside.
As Bitcoin becomes more dominant in the market, altcoins become less so and lose their valuations”
According to the strategist, BTC’s Relative Strength Index (RSI), which measures an asset’s momentum, is on the cusp of flipping bullish.
“Monthly BTC RSI is attempting a breakout from the downtrending channel (orange).
RSI would need to reclaim the green area (previous bear market bottom levels) to flip macro bullish on trend.
Still a few technical steps to make but good progress thus far.”
Regarding the price of Ethereum (ETH), Rekt Capital says that traders can expect heavy resistance in the short term for the top altcoin by market cap.
“ETH is pressing more and more into this orange resistance area.
Ahead is also the series of lower highs acting as another resistance as well.
ETH is now in a confluent area of resistance. Of course, bullish if black diagonal is broken but ETH is not there yet.”
Pseudonymous crypto trader Altcoin Sherpa said recently that Bitcoin would soon hit the $19,000 price range.
The king crypto has been rallying in recent days. At time of writing, Bitcoin is changing hands at $18,842.
“BTC: Eventually I think that $19,000 is the area that price will go to, just don’t know if we dip first or not. I think we fill this gap out a bit and there’s more liquidity higher than current price.”