A closely watched crypto strategist says it’s only a matter of time before Bitcoin (BTC) reaches its all-time high (ATH) again.
Pseudonymous analyst Altcoin Sherpa tells his 196,700 followers on the social media platform
“Don’t get lost in the lower time frame charts and all the noise.
BTC to ATH is inevitable, don’t fight it.”
Bitcoin is trading at $26,880 at the time of writing and a rise towards the all-time high of $69,000 would be a jump of more than 150%.
Then the trader say that the blockchain oracle Chainlink (LINK) has remained in an accumulation range for more than 500 days, but he predicts that LINK will eventually break out.
“LINK: over 500 days of accumulation and chopping. This will fly one day. I think the best way to play this (for most investors) is to:
- DCA (average cost per dollar) from $5-$7 (I know it’s a huge range)
- Sit on this for as long as necessary and wait for the range to break out
- The first bids could be €6.80.”
LINK is trading at $7.27 at the time of writing.
Finally, the trader say Ethereum (ETH) competitor Avalanche (AVAX) is likely to rise more than 14% from its current value in the medium term.
“AVAX: I think this is a buy-the-dip situation:
- Stars Arena returns/hack money restored.
- Logical S/N area (support/resistance), this is close to the origin point.
- I expect to get back above $10 in the medium term.”
Looking at his chart, the trader seems to believe that AVAX will meet resistance at the $9.79 level, fall slightly and then rise to around $10.50.
AVAX is worth $9.17 at the time of writing.
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Generated image: Midjourney