Crypto Strategist Issues Alerts for Bitcoin and Chainlink, Says BTC Looks Heavy CryptoBlog

A crypto strategist known for making timely altcoin calls warns that corrections are imminent for Bitcoin (BTC) and Chainlink (LINK).

Pseudonymous Altcoin Sherpa Analyst recount its 181,900 Twitter followers that Bitcoin looks heavy after BTC fell from around $21,800 to below $20,000 on Friday.

“BTC: I think we will probably hit $19,000. This seems like the next logical bounce point. always varies I believe $17,000 will eventually come in.

As of this writing, Bitcoin is changing hands for $20,068, flat on the day.

Next up is the Chainlink decentralized oracle network. According to Altcoin Sherpa, LINK risks losing more than 30% of its value if Bitcoin and Ethereum (ETH) experience another corrective move.

“LINK: It’s been three months now. I’m still not sure if this is a build up or just a break before another outage. As with all altcoins, it will depend on BTC/ETH – if those break down, it will look like $4.50.

At the time of writing, Chainlink is trading hands for $6.53.

The crypto strategist also tracks Ethereum’s price action. According to Altcoin Sherpa, Ethereum can still reignite its bullish momentum as long as it stays above the key monthly level of $1,460.

“ETH: These monthly levels still hold overall. Higher than current prices are still expected in the near term. $1,800 is a key level in my opinion.

At the time of writing, Ethereum is trading at $1,494.

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Featured image: Shutterstock/Andy Chipus/art prodigital/Salamahin