A popular crypto trader and analyst is expressing bullish sentiment for Bitcoin (BTC) with a caveat.
ពាណិជ្ជករគ្រីពតូឈ្មោះ Altcoin Sherpa ប្រាប់ his 174,900 Twitter followers that he is “cautiously bullish” on Bitcoin while noting that corrections have typically followed BTC’s upward moves in the past.
According to Altcoin Sherpa, his bullish thesis will be invalidated if the key support level of between $36,000 and $37,000 is breached.
“BTC: Although I’m still cautiously bullish until we lose $36,000 – $37,000 on high time frame charts, it’s important to note that every single one of these moves has quickly retraced. A few observations, though…
1- We saw some big moves in February and March followed by quick retracement.
2- The ‘pumps’ and ‘dumps’ have been noticeably smaller over the last few weeks.
3- I’m still hopeful/believe that we’ll see a pump to $50,000 – $55,000 before potential new lows.”
Bitcoin ត្រូវបានជួញដូរនៅ $ 39,480 នៅពេលសរសេរ។
Next up is the primary token of the Bored Ape Yacht Club non-fungible token (NFT) collections, ApeCoin (APE).
While laying out two likely scenarios for APE, Altcoin Sherpa បាននិយាយថា that the Bored Ape Yacht Club’s primary token is more likely to break out of the current range than remain in the present zone.
“APE: There are 2 outcomes here in my opinion: One is a V-shaped reversal to the $19 – $20s and price dumps big after. The second is a longer sustainable high time frame bottom where price chops between $15 – $17 for a while and then we see a more sustained move. I’m leaning more towards the first one.”
ApeCoin ត្រូវបានជួញដូរនៅ $ 15.67 នៅពេលសរសេរ។
Next up is the utility token of the Ethereum-based NFT marketplace LooksRare (LOOKS). Altcoin Sherpa បាននិយាយថា that LOOKS is set to appreciate by over 10% from current levels.
“មើលទៅ៖ ខ្ញុំនៅតែស្ថិតក្នុងការជួញដូរនេះ ខ្ញុំបានទិញក្នុងតម្លៃ 1.75 ដុល្លារ 1.60 ដុល្លារ និង 1.40 ដុល្លារ។ គួរតែទិញច្រើនទៀតក្នុងតម្លៃ 1.40 ដុល្លារ ប៉ុន្តែវាជាអ្វីដែលវាជាការចេញពីរង្វង់នៅលើទីផ្សារពេលនេះបន្តិច។ ខ្ញុំនៅតែគិតថា វានឹងទៅដល់កម្រិតទាបបំផុត $2s យ៉ាងតិច។ នឹងលក់មួយផ្នែកនៅទីនោះ»។
មើល ត្រូវបានជួញដូរនៅ $ 1.76 នៅពេលសរសេរ។
Altcoin Sherpa concludes with the native token of the decentralized application platform Near Protocol (NEAR).
Using a chart indicating that NEAR is currently approaching a key 0.5 Fibonacci resistance level while trading under the 200 moving average on the four-hour chart, Altcoin Sherpa បាននិយាយថា that traders should now reduce their positions in the token.
“NEAR: would probably get ready to take some profits soon if in this.”
ជិត ត្រូវបានជួញដូរនៅ $ 12.51 នៅពេលសរសេរ។
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Featured Image: Shutterstock/Aphelleon/Vladimir Sazonov
Source: https://dailyhodl.com/2022/05/06/top-trader-is-cautiously-bullish-on-bitcoin-btc-charts-apecoin-ape-ethereum-rival-and-one-other-altcoin/