Crypto Trader Who Called Bitcoin Crash Now Bullish on BTC – XRP, Ethereum, Litecoin Forecasts

A veteran technical trader is comparing Bitcoin’s recent surge to the start of the massive bull run that brought the price of BTC to an all-time high of nearly $20,000 on December 17, 2017.

A new tweet from Peter Brandt, who became a legend among crypto traders for accurately predicting the Bitcoin bear market in January of 2018, is going viral. Brant highlights a technical indicator – Factor’s benchmark weekly moving average (MA) – and compares Bitcoin’s current price action to its movements starting in November 2015 leading up to $19,800.

The last time Factor's benchmark weekly MA was in the current profile of turning from down to up was in Nov 2015 just as $BTC began its move from $340 to $19,800. pic.twitter.com/uFJSkV9NwM

— Peter Brandt (@PeterLBrandt) May 2, 2019

Meanwhile, in a new note to clients, Fundstrat analyst Robert Sluymer says he sees Bitcoin at “the early stage of a longer-term recovery,” reports Bloomberg.

“While it’s premature to conclude Bitcoin will not retest support near $4,300, we would encourage traders and investors to remain focused on the bullish longer-term technical profile developing. Bottom line: use recent weakness to accumulate.”

Right now, the market is mostly green, with Bitcoin up 4.86% at $5,658. Ethereum is up 4.63% at $165.97, and XRP is up 1.81% at $0.3063, according to Coin360.

Bitcoin Cash and Litecoin lead the top 10 with the largest gains, up 7.91% and 7.29% respectively.

For technical traders at large, all eyes are on whether Bitcoin can push past $6,000.

Bitcoin

CoinDesk – BTC appears on track to test the psychological resistance of $6,000 soon

NewsBTC – Bitcoin spikes, but the main party is after $6,000

Ethereum

Crypto Daily – Ethereum has just run into a confluence of strong resistance zones

Koinalert – ETH showing strong support at $164

XRP

NewsBTC – Bullish on XRP once prices rally past essential resistance levels

FXStreet – XRP/USD bulls are back

Litecoin

Smartereum – Litecoin price steadily growing since the month of March

FXStreet – LTC/USD bulls hunting for $100 return

Join us on Telegram            Follow us on Twitter

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.