Closely following cryptocurrency traders are anticipating a strong bounce across the cryptocurrency market after weeks of continuous selling.
Analyst pseudonym Credible told his 293,800 followers on Twitter that Ethereum (ETH), the leading smart contract platform, appears poised for a recovery as it flashes multiple bullish signals. more.
“The $3,300-3,300 target area has been hit, and now there are signs of relief.
Several bullish divs with lower TF in USD and BTC pairs.
In my opinion, it is more likely to rise from the current level than from the current level. So far, we’re aiming for $3,500 (for a retest of failure). “
Looking at Ethereum versus Bitcoin (BTC), crypto strategists say they are bullish on the pairs and altcoins as long as ETH/BTC outperforms the 0.07 BTC support, which equates to $2,984.04.
“Some people are saying that ETH/BTC looks terrible here and I like ‘miniaturization’.
As covered in my Youtube video a few months ago, ETH/BTC is seeing a massive breakout and as long as we get past this level, ETH (and changes) will be hard from that drop. You must bounce to.
It accumulates. “
At the time of writing, the ETH/BTC pair is exchanging hands for 0.075 BTC, worth $3,197.18.
The credibility also studies the very high open interest in Bitcoin (OI). It tracks the total number of long and short positions held by market participants pridect The next flash of excessive leverage in the market will stabilize upwards and launch a massive boost from Bitcoin.
“What if the main OI scan everyone is looking for is caused by pressing up instead of moving down?
It happened in August 2021 when we went from the bottom 30K. You will most likely see it working again. Bear is a game to wipe clean. “
In August 2021, bitcoin recovered from a minimum of $37,332 to a maximum of $51,900 by the end of the month.
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