A major cryptocurrency trader updates his outlook on the leading digital asset Bitcoin (BTC), the top digital currency Ethereum (ETH) and the popular Dogecoin (DOGE) meme token as crypto markets show signs of weakness.
Crypto Strategist Rekt Capital Says His 295,000 Twitter followers Bitcoin must recover a crucial price zone before the week comes to a close in order to maintain its bullish momentum.
“Weekly candle closes above $43,100 and BTC could see further upside to $50,000 high.”
According to Rekt, Bitcoin has exited a major reversal pattern on the weekly time frame and is now retesting previous resistance at support.
“BTC is out of its ascending triangle.
BTC is now retesting the top of the ascending triangle as new support in an attempt to confirm the breakout completely.
Retest is in progress. “
Bitcoin It is trading at $42,519 at the time of writing, a 2.5% decrease from the day.
“ETH rejected the monthly resistance out of the blue $3,440.
So a nearly $3,000 (black) re-visit is now a possibility.
It is worth repeating this when the black color is retested when dipping – wicks occur.
So if ETH goes black, it may turn to a higher green low. “
Finally, Rekt Capital brings in Dogecoin and Says That dog’s digital asset could rise to nearly $0.28.
“DOGE is still in the process of reclaiming the $0.14 low band as support (green).
That said, take back [that range] As support, DOGE will confirm a return to this +44% range globally. “
dog Hands are trading at $0.142 at the time of writing while Ethereum is trading at $3,210.
Disclaimer: The opinions expressed in The Daily Hodl are not investment advice. Investors should perform their due diligence before making any high-risk investments in bitcoin, cryptocurrency or digital assets. Please be aware that your transfers and transactions are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend buying or selling any cryptocurrency or digital assets, and The Daily Hodl is not an investment advisor. Please note that The Daily Hodl is involved in affiliate marketing.
Featured Image: Shutterstock / Rawpixel.com / monkographic / PurpleRender / MrArtHit
“Infuriatingly humble alcohol fanatic. Unapologetic beer practitioner. Analyst.”