Bitcoin and Ethereum Trading at Critical Inflection Point, According to Top Crypto Analyst – Here’s Why

Bitcoin and Ethereum Trading at Critical Inflection Point, According to Top Crypto Analyst – Here’s Why


A closely followed crypto analyst says the top two digital assets by market cap are currently hovering at make-or-break levels following a correction that erased nearly $400 billion off the market.

In the latest TechnicalRoundUp newsletter, pseudonymous analyst Cred says that if Bitcoin plunges below the $55,800 range and closes the week there, he would shift to a bearish point of view on BTC.

“This weekly range high is a compelling line in the sand for directional bias. If the breakout turns into a failed breakout, which would be strongly implied by a weekly close below $55800, then our bias would shift bearish.”

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Source: TechnicalRoundUp/TradingView

Cred says BTC bulls can get confident after a convincing reclaim of the $60,000 level or try a “do-or-die” trade

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