The crypto market is currently bleeding as ביטקאָין price leads the bearish momentum. While Bitcoin is struggling to claim its lost $22,000 level, major altcoins have lost more than 80% from their highs.
At the time of writing, Bitcoin is changing hands at $21,737 after a loss of 1.80% from the previous day trade. Immediate resistance lies at $21,800 while the support is positioned around $21,600.
Meanwhile, a renowned crypto analyst and trader known as Smart Contracter is of the opinion that a few major altcoins are about to see a bullish ride soon. Firstly, the analyst claims that Bitcoin and Ethereum which is currently under bearish control will most probably see a relief rally in the next few weeks.
Hence, the trader believes that it’s time to go long towards a few altcoins now.
Further, Smart Contracter states that near the $22,000 area, Bitcoin was flashing a bear pattern. However, he also believes that those were the signs that the flagship currency was heading towards a strong support area.
Source: https://coinpedia.org/bitcoin/watchout-for-bitcoin-price-ahead-as-top-analyst-lays-out-opposite-target/