Analyst Josh Rager says he’s buying the dip on four altcoins in the aftermath of the widespread crypto market sell-off.
After Bitcoin dropped from $12,042 down to $10,325 in just over 24 hours, crypto analyst Josh Rager is bullish on Chainlink (LINK).
He says the coin is historically one of the fastest to recover after a major market correction. In addition, Rager tells his 83,000 followers on Twitter that he’s also buying the DeFi darling Yearn.Finance (YFI), the cross-blockchain platform Polkadot (DOT), and the decentralized exchange token Serum (SRM).
Fellow analyst Cred tells his 167,000 Twitter followers that BTC has dropped below a key level of support and risks an even larger move to the downside.
“In times like these it’s most difficult to adhere to a high time frame perspective. Just sharing my views from the monthly.
BTC: Positive as long as support at $10,700/mid-$10,000 holds. ETH: Positive as long as support at $390s holds. Wicks and shorter-term PA below are acceptable.”
Bought $ETH here at $393.
May look like an idiot by the end of the week, but it’s unlikely I regret this decision in terms of the trading process.
— Cred (@CryptoCred) September 3, 2020
Meanwhile, veteran strategist Tone Vays says he’s expecting BTC to correct by about 30%, as it has historically done many times in the past. He’s a buyer in the $9,500 range.
“Going to $12,000 and then dropping to $9,000 is pretty much almost a 30% correction… I’m not expecting $7,000, but I am expecting $9,000.
I plan to be setting my limit orders around $9,500. I would like that buying up into it.”
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/ArtFurnace
