A widely followed crypto trader is outlining how the top two leading digital assets can continue their upward movement.
The pseudonymous analyst known as Rekt Capital tells his 328,000 Twitter followers that king crypto Bitcoin (BTC) has been in a technical uptrend for the past five days that could continue.
If it does, the crypto analyst says that the top crypto asset by market cap should see a surge to the upside.
[adinserter block="1"]“BTC hasn’t been moving drastically towards the upside.
That being said, it has been in a technical uptrend for the past five days or so.
As long as the technical uptrend continues to hold like this, BTC should be able to enjoy some acceleration to the upside.”
Rekt Capital says that BTC has recently reached its uptrend line and is currently testing it to see if it can hold support.
Moving on to Ethereum (ETH), the trader says that the leading smart contract platform needs to reclaim the $1,600-$1,700 area to prevent a lower high resistance trendline from forming.
“ETH is now potentially relief rallying into the orange area to turn it into a new resistance.
ETH would need to reclaim the bottom of this orange area as support in order to avoid this potential lower high trendline resistance from developing.”
Bitcoin is trading for $20,742 at time of writing, a 3.7% dip on the day while Ethereum is changing hands for $1,583, a 7.5% drop in the last 24 hours.
Follow us on X, Facebook and TelegramDon't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
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 losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any assets including cryptocurrencies, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/YanaBu/monkographic
