A widely followed crypto trader says he sees sustained rallies for Bitcoin (BTC), Ethereum (ETH) and Cosmos (ATOM).
Pseudonymous crypto strategist Inmortal tells his 147,000 Twitter followers that he’s looking at the inverse chart of Bitcoin and sees BTC grinding higher in the coming months.
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“How is this pattern called? Bitcoin.”
Looking at Inmortal’s inverse BTC chart, it appears the strategist predicts that Bitcoin will repeatedly create higher-low setups en route to $60,000 by May.
In the short term, Inmortal says Bitcoin must get above its immediate resistance to sustain its bullish momentum.
“Still thinking big wicks mean nothing if they didn’t have follow-up [move]. A close above $42,500 would be good.”
Inmortal is also keeping a close watch on Ethereum in its Bitcoin pair (ETH/BTC). According to Inmortal, ETH/BTC has managed to break its bearish market structure and is now poised to form its first higher high in over three months.
“First signs of reversal on ETH vs. BTC after 100 days downtrend.
Higher highs + higher lows = 0.074 BTC [$3,047].”
Next up is Cosmos, an ecosystem of blockchains designed to scale and interoperate with each other. According to Inmortal, he sees Cosmos rallying over 33% from its current price of $27.85.
“I’m in ATOM since $27.77, targeting [the] range high.”
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/iobard
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