Prominent Trader Shares Bitcoin, Ethereum 'Levels Of Interest' And ETF Launch Lessons
Portfolio Pulse from Khyathi Dalal
Crypto trader CryptoBully shared his views on Bitcoin and Ethereum price movements and the impact of Ethereum ETFs. He suggested Bitcoin could retest $65,800 and expressed a bearish outlook on Ethereum, advising against spot trades until Bitcoin surpasses $67,000. The trader also discussed the non-event nature of ETF launches.
July 26, 2024 | 7:16 pm
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CryptoBully expressed a bearish outlook on Ethereum, citing a lack of demand and advising against spot trades until Bitcoin surpasses $67,000. He compared the situation to the Merge and suggested potential accumulation if Bitcoin hits its June lows.
The trader's bearish outlook on Ethereum, combined with a lack of demand, suggests a potential short-term decline in its price. He advises against spot trades until Bitcoin shows significant upward movement.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
CryptoBully suggests Bitcoin could see a minimum retest of $65,800, with potential sideways or upward movement in the near term. He advises caution if Bitcoin doesn't move up significantly from the midpoint of the initial wick.
The trader's analysis indicates a potential upward movement for Bitcoin, which could positively impact its price in the short term. However, caution is advised if the price doesn't move up significantly.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100