A cryptostrategist and trader under the pseudonym Cred noted the outstanding technical setup of the two largest crypto-assets bitcoin and Ethereum.
In a new strategy session, he predicted that Ethereum will overcome resistance at the $4,000 level and head for a new all-time high.
I think we will, at the very least, start to overcome resistance, move up and get to $4400. Maybe even break through to $4,600, $4,800 and $5,000.
That said, Cred notes that this massive rally may be preceded by a short correction.
As for bitcoin, again, the analyst speaks of a near-term price surge.
We seem to have a double top formed, but it won't hold for long unless the S&P 500 shows a mega decline. Maybe we will see some sort of sideways consolidation in a slow upward move...
In that case, the double top will reach $52,000. In fact, we're not that far away from that... We may still go down during the week, but not much at all.
The expert believes that as long as the bitcoin rate exceeds $ 44,000, there is every reason for an optimistic bearish mood.
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