Top Crypto Trader Predicts Big Gains for Bitcoin (BTC) and Ethereum (ETH) – But There’s a Catch

A popular crypto analyst thinks Bitcoin (BTC) and Ethereum (ETH) could capitalize on their recent momentum and go even higher.

The pseudonymous crypto trader known as Altcoin Sherpa tells his 182,800 Twitter followers that Bitcoin could soon rise another 8% if it hits $21,700.

“Squeeze came. $21,000 hit. I think it’s better to take profit if you bought yesterday/last days. it is a resistance zone and a 200 exponential moving average over the 4 hours [chart]. If it goes higher, I like the $23,000 area (and $21,700 first).

Source: Altcoin Sherpa/Twitter

BTC is trading at $21,300 at the time of writing. The top-ranked crypto asset by market capitalization is up more than 10% in the past 24 hours.

Still, Altcoin Sherpa doesn’t believe BTC will see double-digit gains and encourages traders to avoid becoming too bullish.

“Play from level to level. Don’t expect more than 10% movement overall. Take profits and be patient. I doubt it’s the overall macro background.

Looking at Ethereum, the analyst think ETH looks better than Bitcoin.

“I think it formed a decent bottom and the market structure on the lower timeframes still looks bullish. If the highs are breached (watch out for the short-term double top), $2,500 could come in.

Source: Altcoin Sherpa/Twitter

With ETH trading at $1,716 at the time of writing, $2,500 would represent an increase of over 45%. The second-largest crypto asset by market capitalization is up more than 5% in the past 24 hours.

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Disclaimer: Opinions expressed on The Daily Hodl are not investment advice. Investors should do their due diligence before making high-risk investments in Bitcoin, cryptocurrency or digital assets. Please note that your transfers and transactions are at your own risk and any loss you may incur is your responsibility. The Daily Hodl does not recommend the buying or selling of cryptocurrencies or digital assets, nor is The Daily Hodl an investment adviser. Please note that The Daily Hodl engages in affiliate marketing.

Featured Image: Shutterstock/Bruce Rolff

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