Crypto analyst Inmortal has predicted that Bitcoin (BTC) is likely to experience a deep corrective move close to the $20,000 level before a parabolic rally above $50,000. Inmortal believes that Bitcoin is mirroring its price action in the latter months of 2019 when it broke below its support at around $10,000 and dipped all the way down to the $6,000 level.Looking at the trader’s chart, he seems to predict that BTC will initially fall below $24,000 prior to a rally toward the $30,000 price area. The chart also shows that the rally will likely be followed by a steep pullback to the $21,000 level. At time of writing, Bitcoin is trading for $26,063.Inmortal also predicts that Ethereum (ETH) will trade within an ascending triangle pattern in the coming months before breaking out at the start of 2024. Based on the trader’s chart, he appears to predict that Ethereum will soar above the $3,000 price area in the first quarter of 2024. At time of writing, Ethereum is worth $1,653.
This News Article was automatically generated by Bob the Bot(AI)
This News Article was automatically generated by Bob the Bot(AI)
| Information | Details |
|---|---|
| Geography | Global |
| Countries | |
| Sentiment | neutral |
| Relevance Score | 8 |
| People | Ethereum, Inmortal, Bitcoin |
| Companies | |
| Currencies | ethereum, bitcoin |
| Securities |
