A popular crypto analyst is digging into the charts to set low-end price targets for Bitcoin and Ethereum, the 2 largest cryptocurrency assets by market cap.
The analyst remains cautious about predicting a BTC bear cycle bottom, noting two previous instances that were punctuated by dramatic volatility downward.
“I’m not saying this is necessarily the bottom. Usually for absolute bottoms to form, you want to see some sort of nasty capitulation wick. Back in 2018, that was obviously the $6,000 level where price fell through [from] $6,000 to $3,000.
Regarding his Ethereum bottom target:
“This area remains a high-demand zone area and if we fall out here, $600 is probably the next area up.”
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