Crypto Trader Reveals Bullish Outlook on Altcoin, Bitcoin (BTC), and Ethereum (ETH)
A closely followed crypto trader is optimistic about an under-the-radar layer-1 project and provides updates on the market structure of Bitcoin and Ethereum.
Trader’s Analysis on Constellation (DAG)
Pseudonymous trader and analyst Inmortal highlights Constellation (DAG), a blockchain utilizing Directed Acyclic Graph technology, as a promising asset with a bullish market structure following an extended accumulation period of over 400 days.
- Positive factors for DAG:
- +400 days accumulation
- Accumulation retest
- Healthy market structure with consecutive higher lows and higher highs
According to Inmortal, he prefers charts like DAG’s that are not artificially pumped.
Ethereum (ETH) and Bitcoin (BTC) Analysis
The trader also expresses bullish sentiment towards Ethereum, especially in its Bitcoin pair (ETH/BTC) as it has recently dipped below a critical support level for the third time in six months. Inmortal’s analysis indicates a potential rally up to 0.08 for ETH/BTC in the near future.
- Ethereum’s outlook:
- Reaching 0.08 in the coming months
Regarding Bitcoin, Inmortal identifies three technical indicators favoring a positive market structure for BTC:
- Technical indicators supporting BTC:
- Consolidation below resistance levels
- Absence of swing failure patterns
- Consistent higher lows, compression, and significant green candle movements
Current Market Status
As of the latest update, Bitcoin is trading at $68,890, reflecting a 4.3% decrease in the past 24 hours.
Hot Take: Stay Informed for Profitable Trades!
Keep an eye on Constellation (DAG), Ethereum, and Bitcoin as these assets show promise according to Inmortal’s analysis. Understanding the market structures of various cryptocurrencies is crucial for making informed investment decisions.
By
By
By
By