Comprehensive up-to-date news coverage

HomeNewsBusinessPopular Crypto Analyst Updates Ethereum Outlook, Warns Bitcoin (BTC) Is Set For...

Popular Crypto Analyst Updates Ethereum Outlook, Warns Bitcoin (BTC) Is Set For A Bull Trap (ETH)

Published on

Follow us on Google News for latest updates and information.

News Tech: According to a well-known crypto analyst, Bitcoin (BTC) is leading bulls to think that the $20,000 region might be the bottom of the bear market.

“Things look safe, but they’re not… Can we ascend? Yes. These will probably certainly be used as fuel for a nuclear weapon or run. Yes, again. Almost always, these are set up as a trap for longs that grow over time and believe they are “titanium support.”

Pentoshi, a pseudonymous expert, alerts his 600,100 Twitter followers that Bitcoin has hit support three times in the range of $20,000 in the last month or so.

Multiple bounces off a support level in technical analysis indicate that a breakdown is imminent when supply at that particular price region runs out.

Enjoyoorrsss, BTC weekly 200 moving average.

At time of writing, BTC is swapping hands for $21,400 while the 200-week moving average is hovering above $23,000. As for Ethereum (ETH), the crypto analyst warns that the leading smart contract platform just respected a crucial resistance level, suggesting that the downtrend is very much intact.

“The story writes itself. ETH.” At time of writing, ETH is trading at $1,642, below Pentoshi’s marked resistance at $2,000.

See also  Chhattisgarh Chief Minister writes to 17 states to request Center to extend GST compensation scheme by five years

Latest articles

Pro-Russian groups continue to raise money through cryptocurrencies as more sanctions are imposed

News Tech: According to a study report released on Monday, pro-Russian organisations are...

Remove slide numbers from specific slides in Microsoft PowerPoint

Hello everyone, in this article we will show you how Remove slide numbers from...

Investment of INR 45 million by Incofin India Progress Fund in Mufin Green Finance Limited

News Tech: From Incofin India Progress Fund, Mufin Green Finance has received INR...

More like this

Pro-Russian groups continue to raise money through cryptocurrencies as more sanctions are imposed

News Tech: According to a study report released on Monday, pro-Russian organisations are...

Remove slide numbers from specific slides in Microsoft PowerPoint

Hello everyone, in this article we will show you how Remove slide numbers from...

Investment of INR 45 million by Incofin India Progress Fund in Mufin Green Finance Limited

News Tech: From Incofin India Progress Fund, Mufin Green Finance has received INR...

Australia and the United States announced the International Olympic Committee for the Space Surveillance Telescope

In Science and Space: The Australian Department of Defense (DoD) and the United...

How to Create Local Account on Windows 11

Hello everyone, in this article we will show you how Create a local account...