Crypto Trader Predicts Bitcoin’s Next Move
Crypto trader Ali Martinez believes that Bitcoin (BTC) is on the verge of making a bullish move, but there might be a dip before that happens. According to Martinez, Bitcoin will likely break above the upper trendline of a bullish ascending triangle. However, he predicts that the cryptocurrency may first decline to $33,000 before the breakout occurs. Martinez also analyzes Bitcoin’s previous market cycles and suggests that the current cycle will reach its peak around October 2025.
Ethereum Faces Resistance at Key Level
Martinez also comments on Ethereum (ETH) and highlights data from IntoTheBlock, indicating that the cryptocurrency will face significant resistance at the $1,960 level due to a “supply wall.” This means that many holders may sell off their ETH if it reaches that price point. Ethereum is currently valued at $1,783.
Hot Take: Bitcoin’s Potential Upside with a Temporary Dip
According to crypto trader Ali Martinez, Bitcoin is poised for an upward movement, potentially breaking above the upper trendline of a bullish ascending triangle. However, before this breakout occurs, Martinez predicts a temporary dip to $33,000. The trader also provides insights into Bitcoin’s future market cycle, projecting a peak around October 2025 based on previous trends. As for Ethereum, Martinez highlights resistance at the $1,960 level due to a significant supply wall. While both cryptocurrencies face potential challenges, they continue to attract attention in the crypto market.
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