After a solid week, Bitcoin continues to lead other cryptocurrencies in a bullish attack over the weekend. Bitcoin’s daily candle closed at $44,340 Friday, after briefly touching $45,000 on Saturday.
The price has been in a bullish trajectory since last Monday, with only a minor correction last weekend after the price reached $42,000.
Ethereum, on the other hand, is also on the rise. Since March 14, Ethereum is up 24 percent, compared to bitcoin’s 18 percent rise.
Is this a counterfeit Bitcoin?
Bitcoin, Ethereum and other of the largest crypto assets by market cap have bleak short-term prospects, according to an analyst. The analyst, who goes by the name Capo, says there is no reason to be optimistic and that Bitcoin will crash in April.
The trader, basing his analysis on Elliott Wave theory, places Bitcoin’s major resistance barrier between $45,000 and $46,000. In the 12-hour time frame, Capo predicts that BTC will fall through a massive symmetrical triangle pattern, reaching a target price of $21,000 to $23,000.
Then there is Ethereum. Should ETH shatter the support around $2,000, the trader will believes he will set a purchase goal between $1,100 and $1,300.
“ETH Midrange acts as resistance after drift above range high and pivot point completely broken. Break of the range low = $1,100 – $1,300. bearish.”
Terra, a stablecoin protocol, comes next (LUNA). capo say he is looking for a purchase price of $40 to $45. If Terra were to move above its all-time high of just under $104, he said the analyst’s negative statement would be dismissed.
Fantom, a smart contract blockchain, is coming (FTM). FTM is expected to tumble, according to Capo, as its bullish market structure is no longer valid and Fantom recently saw a brief comeback.
Cardano is another coin on Capo’s radar (ADA). When Cardano drops to $0.15, the crypto expert thinks he will change his current opinion.
“Bullish on ADA from $0.15. Bearish on ADA from $2.58. And this is not financial advice.”