Analyst Mentions Critical Levels for BTC and ETH

Anonymous crypto analyst Altcoin Sherpa, in a new video he shared with more than 10 thousand YouTube subscribers, stated that if the largest cryptocurrency BTC rises above the 2023 high of $ 24 thousand 200 and remains above that level, it will show that the rise will continue. said:

“So we are watching this high around $24,000 carefully. If we break cleanly and stay above this level, I think we could see it rise to $26,000 and continue to rise. I think this will create a clear bullish structure at this point. “

On the other hand, the analyst warned investors, stating that a lower peak would be a bearish indicator for the largest cryptocurrency BTC:

“You know, there are some bearish indicators, if we hit a lower top, ie $22,000 or $23,000, we would move down and go straight down to $20,000.”

According to altcoin Sherpa, Bitcoin could rise more than 30 percent from current levels and then drop below the 2022 low of $16,000.

“To be clear, I don’t think the price has really bottomed out. I wouldn’t be surprised if the price goes higher, maybe as much as $25,000. I’ve always expected it to go to the $25,000 to $30,000 range, and I wouldn’t be surprised if it eventually hits $30,000. But I wouldn’t be surprised if the price goes up to $25,000. It makes a lot of sense to me for it to trade in the $30k to $30,000 range and then go down to $20,000 or something like that. Or $17,000 or $15,000…”

Shifting to ETH after BTC, Altcoin Sherpa said that depending on Bitcoin’s behavior, the second largest cryptocurrency by market cap could rise by over 25 percent from current levels. According to the analyst, investors should wait for Ethereum to break above the $1,700 level to go long.

“Ethereum looks pretty strong overall. I am still waiting for the highs around $2,000 to arrive… Personally, I believe the $2K zones will be reached as long as Bitcoin remains stable.

To wait for a break above the $2,000-dollar zone, the $1,600 to $1,700 level should be expected to be broken through.”